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Openness, technology capital, and development

Author: Edward C Prescott; Hong Kong University of Science and Technology. Institute for Advanced Study.; Hong Kong University of Science and Technology. Center for Economic Development.
Publisher: [Hong Kong : Hong Kong University of Science and Technology, 2007]
Series: Institute for Advanced Study Nobel lecture series.
Edition/Format:   eVideo : English
Database:WorldCat
Summary:
Professor Prescott will talk about how aggregation is carried out and how the aggregate production functions for the countries are derived. The framework interacts well with the national accounts in the same way as does the neoclassical growth model. It also interacts well with the international accounts. There are constant returns to scale, and therefore no monopoly rents. Yet there are gains to being economically  Read more...
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Details

Material Type: Internet resource, Videorecording
Document Type: Internet Resource, Computer File, Visual material
All Authors / Contributors: Edward C Prescott; Hong Kong University of Science and Technology. Institute for Advanced Study.; Hong Kong University of Science and Technology. Center for Economic Development.
OCLC Number: 176541841
Notes: Title from web page (viewed 22 Oct., 2007).
"Jointly organised by Center for Economic Development."
Performer(s): Speaker: Edward C. Prescott.
Event notes: Recorded on 5 June, 2007, Hong Kong University of Science and Technology.
Description: 1 streaming video file (100 min.) : digital, WMV file, sd., col.
Details: Mode of access: World Wide Web.; System requirements: Windows Media Player.
Series Title: Institute for Advanced Study Nobel lecture series.

Abstract:

Professor Prescott will talk about how aggregation is carried out and how the aggregate production functions for the countries are derived. The framework interacts well with the national accounts in the same way as does the neoclassical growth model. It also interacts well with the international accounts. There are constant returns to scale, and therefore no monopoly rents. Yet there are gains to being economically integrated. In the framework, a country's openness is measured by the effect of its policies on the productivity of foreign operations. The analysis indicates that there are large gains to this openness.

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