A Two-Sector Model of Endogenous Growth with Leisure
نویسندگان
چکیده
منابع مشابه
A two-sector model of endogenous growth with leisure externalities
This paper considers leisure externalities in a Lucas (1988) type model in which physical and human capital are necessary inputs in both sectors. In spite of a non-concave utility, the balanced growth path is always unique in our model which guarantees global stability for comparative-static exercises. We analyze and quantify the effects of preferences toward leisure on labor supply and welfare...
متن کاملSu¢ ciency Conditions and the Existence of Equilibria in the Two-Sector Endogenous Growth Model with Leisure
This paper examines the existence and nature of equilibria and balanced growth paths in the Uzawa-Lucas two-sector endogenous growth model with elastic labor supply. We demonstrate that it is not possible to merely insert a labor-leisure choice into the model, as has occasionally been done in in the past the resulting rst order conditions for the representative agent violate the Pontyagrin ma...
متن کاملA growth model for a two-sector economy with endogenous productivity
A growth model is developed for an open dual economy. Th e economy expands due to a higher growth rate of labour productivity in the modern sector through the Kaldor-Verdoorn channel and higher eff ective demand through a Keynesian channel. Th e model incorporates a retardation mechanism aff ecting the slopes of productivity and output growth schedules as labour surplus and economies of scale d...
متن کاملA Two-sector Growth Model with Endogenous Human Capital and Amenities
This paper examines issues related to urbanization with labour migration. The main departures from the traditional approaches to dynamics of economic structures are that the paper uses an alternative approach to consumer behaviour and introduces human capital accumulation via learning by doing. The model describes dynamic interactions among agricultural and industrial production, rural and urba...
متن کاملA two-country model of endogenous growth
We study the competitive equilibria of a two-country endogenous growth model in which the source of growth is the linearity of technology in reproducible inputs. We begin by showing that in a model with no externalities there is a unique equilibrium; however, there are multiple ways in which the social planner can allocate production plans across countries. We then introduce an externality to h...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Review of Economic Studies
سال: 1999
ISSN: 0034-6527,1467-937X
DOI: 10.1111/1467-937x.00100