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Biased innovations in the Harrod-Domar model

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  • Hernando Zuleta

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Abstract

This paper presents an endogenous growth model where the aggre- gate production function is a Leontief (1941) and long run growth is completely explained through biased technological change. Under this framework we get two results: (i) if the income share of reproducible factors is high enough, in the long run the economy presents a positive balanced growth path; (ii) if the in- come share of reproducible factors is low, in the long run the economy behaves as a Harrod-Domar economy without long run growth. **************************************************************************************************************** En este art�culo se presenta un modelo de crecimiento donde la funci�n de producci�n es del tipo Leontief (1941), la tasa de ahorro es end�gena y el crecimiento de largo plazo es explicado por cambio tecnol�gico sesgado. En este entorno se obtienen dos resultados: (i) si la participaci�n de los factores reproducibles en el producto es suficientemente alta, en el largo plazo la econom�a presenta una senda de crecimiento balanceado; (ii) si, en cambio, la participaci�n de los factores reproducibles es baja, en el largo plazo no hay crecimiento y la econom�a se comporta al estilo Harrod-Domar.

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Bibliographic Info

Article provided by UNIVERSIDAD DEL ROSARIO in its journal REVISTA DE ECONOMÍA DEL ROSARIO.

Volume (Year): (2007)
Issue (Month): ()
Pages:

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Handle: RePEc:col:000151:004424

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Related research

Keywords: endogenous growth; capital using and labor saving technological change;

References

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  2. Robert C. Allen, 2005. "Capital Accumulation, Technological Change, and the Distribution of Income during the British Industrial Revolution," Economics Series Working Papers 239, University of Oxford, Department of Economics.
  3. Paul M Romer, 1999. "Endogenous Technological Change," Levine's Working Paper Archive 2135, David K. Levine.
  4. Michele Boldrin & David K Levine, 2002. "Perfectly Competitive Innovation," Levine's Working Paper Archive 625018000000000192, David K. Levine.
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