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Endogenous task-based technical change : factor scarcity and factor prices

Irmen, Andreas - 2020

This paper develops a static model of endogenous task-based technical progress to study how factor scarcity induces technological progress and changes in factor prices. The equilibrium technology is multi-dimensional and not strongly factor-saving in the sense of Acemoglu (2010). Nevertheless,...

Persistent link: https://www.econbiz.de/10012200235

Trade union objectives and economic growth

Irmen, Andreas; Wigger, Berthold U. - 2001

A trade union whose purpose is to raise wages above the competitive level may foster economic growth if it succeeds in shifting income away from the owners of capital to the workers and if the workers' marginal propensity to save exceeds the one of capitalists. We make this point in an...

Persistent link: https://www.econbiz.de/10011399719

Factor income distribution and endogenous economic growth : when Piketty meets Romer

Irmen, Andreas; Tabaković, Amer - 2016

We scrutinize Thomas Piketty's (2014) theory concerning the relationship between an economy's long-run growth rate, its … of Piketty's Second Fundamental Law of Capitalism does not hold. In line with Piketty's theory a smaller long-run growth …, both the economy's savings rate and its growth rate are endogenous variables whereas in Piketty's theory they are both …

Persistent link: https://www.econbiz.de/10011568791

Inequality and growth : the dual role of human capital in development

Eicher, Theo S. - 2000

To examine how human capital accumulation influences both economic growth and income inequality, we carefully endogenize the demand and supply of skills. We explicitly introduce the costs and externalities in education, and examine how both relate to learning-by-doing and R&D intensity. In...

Persistent link: https://www.econbiz.de/10009781636

The role of human capital in structural change and growth in an open economy : innovative and absorptive capacity effects

Bye, Brita; Fæhn, Taran - 2021

Since the financial crisis in 2008, slow growth has riddled Europe and the Covid-19 pandemic is amplifying the challenge. Promoting economic growth and transforming to a more knowledge-based industrial structure will be high on the agenda for the coming decades. We study how more and better...

Persistent link: https://www.econbiz.de/10012421142

The supply of hours worked and fluctuations between growth regimes

Iong, Ka-Kit; Irmen, Andreas - 2021

Declining hours of work per worker in conjunction with a growing work force may give rise to fluctuations between growth regimes. This is shown in an overlapping generations model with two-period lived individuals endowed with Boppart-Krusell preferences (Boppart and Krusell (2020)). On the...

Persistent link: https://www.econbiz.de/10012499514

Energy efficiency and directed technical change : implications for climate change mitigation

Casey, Gregory - 2022

I build a quantitative model of economic growth that can be used to evaluate the impact of environmental policy interventions on ﬁnal-use energy consumption, an important driver of carbon emissions. In the model, energy demand is driven by directed technical change. Energy supply is subject to...

Persistent link: https://www.econbiz.de/10012817938

Unemployment and the direction of technical change

Casey, Gregory - 2024

I construct and analyze a growth model in which technical change can increase unemployment. I first analyze the forces that deliver a constant steady state unemployment rate in this setting. Labor-saving technical change increases unemployment, which lowers wages and creates incentives for...

Persistent link: https://www.econbiz.de/10014583789

Distribution and growth in an economy with limited needs

Saint-Paul, Gilles - 2001

This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...

Persistent link: https://www.econbiz.de/10011398011

A generalized steady-state growth theorem

Irmen, Andreas - 2013 - This Version: November 8, 2013

Uzawaś steady-state growth theorem (Uzawa (1961)) is generalized to a neoclassical economy that uses current output, e. g., to create technical progress or to manufacture intermediates. The difference between aggregate final-good production and these resources is referred to as net output. The...

Persistent link: https://www.econbiz.de/10010210700