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The twin forces of investment in new and scrapping of old equipment are traditionally supposed to play a large part in explaining productivity growth. Scrapping cannot in practice be observed directly but can be inferred by estimating a vintage capital model. When this is done it is found that...
This article examines the numbers of skilled persons in engineering and allied occupations who qualify each year throughout the skill range—from an engineering doctorate to craftsmen and technicians—and compares Britain with other advanced industrial countries. The main quantitative...
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