Human Capital Accumulation, Home Production and Equilibrium Dynamics
نویسنده
چکیده
This paper constructs a human-capital accumulation propelled endogenous growth model in which a home production sector is modeled explicitly. We con rm rst the basic equilibrium properties of a unique balanced-growth path, then conduct comparative statics and comparative dynamics exercises analytically. The implications of home production are explored in both the long and short runs, hence some economic realities can be explained. For example, it is shown that the present structure can shed light on understanding the rise trend of womens market work hours observed in recent decades. JEL classi cation: D13, D91, O41
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