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Endogenous capital- and labor-augmenting technical change in the neoclassical growth model
Irmen, Andreas; Tabakovic, Amer - 2015
The determinants of the direction of technical change and their implications for economic growth and economic policy are studied in the one-sector neoclassical growth model of Ramsey, Cass, and Koopmans extended to allow for endogenous capital- and labor-augmenting technical change. We develop a...
Persistent link: https://www.econbiz.de/10011404419
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Steady-state growth and the elasticity of substitution
Irmen, Andreas - 2010
In a neoclassical economy with endogenous capital- and labor-augmenting technical change the steady-state growth rate of output per worker is shown to increase in the elasticity of substitution between capital and labor. This confirms the assessment of Klump and de La Grandville (2000) that the...
Persistent link: https://www.econbiz.de/10003938203
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The optimal amount of attention to capital income risk
Yin, Penghui - 2018
uninsured capital income risk, and suffer from an information-processing capacity constraint. For given attention devoted to … capital income risk, we solve for the optimal consumption-saving choices and show that the expected welfare is increasing with … households would pay more attention to capital income risk if they have (i) lower initial wealth endowment, (ii) lower marginal …
Persistent link: https://www.econbiz.de/10011951668
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The neoclassical model and the welfare costs of selection
Collard, Fabrice; Licandro, Omar - 2021
This paper embeds firm dynamics into the Neoclassical model and provides a simple framework to solve for the transitional dynamics of economies moving towards more selection. As in the Neoclassical model, markets are perfectly competitive, there is only one good and two production factors...
Persistent link: https://www.econbiz.de/10012603140
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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 …
Persistent link: https://www.econbiz.de/10011398011
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Immigration and economic growth in the OECD countries 1986 - 2006
Boubtane, Ekrame; Dumont, Jean-Christophe; Rault, Christophe - 2015
This paper offers a reappraisal of the impact of migration on economic growth for 22 OECD countries between 1986-2006 and relies on a unique data set we compiled that allows us to distinguish net migration of the native- and foreign-born populations by skill level. Specifically, after...
Persistent link: https://www.econbiz.de/10010533072
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Knowing the damages is not enough : the general equilibrium impacts of climate change
Kalkuhl, Matthias; Edenhofer, Ottmar - 2016
impacts on labor movement and income distribution. We apply our analytical findings to reasonable parameters for a large set …
Persistent link: https://www.econbiz.de/10011454039
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Automation, economic growth, and the labor share - a comment on Prettner (2019)
Heer, Burkhard; Irmen, Andreas - 2019 - This Version: June 24, 2019
Prettner (2019) studies the implications of automation for economic growth and the labor share in a variant of the Solow-Swan model. The aggregate production function allows for two types of capital, traditional and automation capital. Traditional capital and labor are imperfect substitutes...
Persistent link: https://www.econbiz.de/10012031062
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Using the salop circle to study scale effects in Schumpeterian growth models : why inter-sectoral knowledge diffusion matters
Gray, Elie; Grimaud, André - 2016
This paper analyzes the link between the fact that fully endogenous growth models exhibit (or not) the non-desirable scale effects property and assumptions regarding the intensity of knowledge diffusion. In that respect, we extend a standard Schumpeterian growth model by introducing explicitly...
Persistent link: https://www.econbiz.de/10011515411
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Competition, imitation, and R&D productivity in a growth model with sector-specific patent protection
Mosel, Malte - 2010
Recent empirical studies suggest a need for a flexible patent regime responding to industry characteristics. In practice, sector-specific modifications of patent strength already exist but lack theoretical foundation. This paper intends to make up for this neglect by scrutinizing in what...
Persistent link: https://www.econbiz.de/10003982010