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Embodied technological progress. (This follows Solow, 1960 , and Sato, 1966 . ) One view of technological progress is that the productivity of capital goods built at t depends on the state of technology at t and is unaffected by subsequent technological progress. This is known as embodied technological progress (technological progress must be "embodied" in new capital before it can raise output). This problem asks you to investigate its effects. (a) As a preliminary, let us modify the basic Solo
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