Abstract
The paper analyzes the production structure and the demand for inputs in three major industrialized countries, the U.S., Japan and Germany. A dynamic factor demand model with two variable inputs (labor and energy)and two quasi-fixed inputs (capital and RD we also find that for all countries the speed of adjustment for capital is higher than that of R&D. Adjustment costs are of importance in the demand equations for capital and R&D, but play a minor role in the decomposition of total factor productivity growth.
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