A two-sector model of endogenous growth with leisure externalities
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...
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 2013
ISSN: 0022-0531
DOI: 10.1016/j.jet.2012.08.005