The Long-Run Implications of a Hicks-Neutral Technical Progress
在代际交叠模型中分析希克斯中性技术进步对稳态福利的影响，发现利润动机促使生产者采用先进技术，但可能通过改变要素价格和跨期消费降低稳态福利，且技术进步会通过影响资本形成改变长期要素价格比。
This paper analyzes the steady-state welfare implications of a Hicks-neutral technological progress, or alternatively, of an i nternational transfer of a Hicks-neutral superior technology within a n overlapping generations framework. The analysis indicates that prod ucers will be induced by profit motives to adopt the advanced technol ogy although its effect on factor prices and intertemporal consumptio n may reduce steady-state welfare. Morever, it is shown that in contr ast to the static results, a Hicks-neutral technical progress alters the long-run factor price ratio through the effect on capital formati on. Copyright 1988 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.