TY  - JOUR
AU  - Jovanovic,Boyan
AU  - Rob,Rafael
TI  - Solow vs. Solow: Machine Prices and Development
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 5871
PY  - 1997
Y2  - January 1997
UR  - http://www.nber.org/papers/w5871
L1  - http://www.nber.org/papers/w5871.pdf
N1  - Author contact info:
Boyan Jovanovic
New York University
Department of Economics
19 W. 4th Street, 6th Floor
New York, NY  10012
Tel: 212/998-8953
Fax: 212/995-4186
E-Mail: Boyan.Jovanovic@nyu.edu
AB  - Machines are more expensive in poor countries, and the relation is pronounced.  It is hard for a Solow (1956) type of model to explain the relation between machine prices and GDP given that in most countries equipment investment is under 10% of GDP.  A stronger relation emerges in a Solow (1959) type of vintage model in which technology is embodied in machines.
ER  -