A Framework for Economic Growth with Capital-Embodied Technical Change
构建了一个资本体现技术进步的框架，通过自动化和生产率提升两个维度解释平衡增长、结构转型及劳动份额下降等现象，有助于调和微观创新与宏观平衡增长之间的张力。
Technological advance is often embodied in capital inputs, like computers, airplanes, and robots. This paper builds a framework where capital inputs advance through (i) increased automation and (ii) increased productivity. The interplay of these two innovation dimensions can produce balanced growth, satisfying the Uzawa Growth Theorem even though technological progress is capital-embodied. The framework can further address structural transformation, general-purpose technologies, the limited macroeconomic impact of computing, and declining productivity growth and labor shares. Overall, this tractable framework can help resolve puzzling tensions between micro-level observations of innovation and balanced growth while providing new perspectives on numerous macroeconomic phenomena.