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research articles : Endogenous technological change with leisure-dependent utility

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Author Info
Paul A. de Hek () (Erasmus University Rotterdam, P.O.Box 1738, NL-3000 DR Rotterdam, THE NETHERLANDS)

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Abstract

This paper investigates the effect of introducing leisure-dependent utility into two models of endogenous technological change. Due to the flexibility in the labour supply the dynamics of the models change significantly. It is shown that if agents attach enough value to leisure in comparison to consumption two balanced growth paths may exist. This implies that economies with the same preferences and the same technology may experience different long-run growth rates.

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File URL: http://link.springer.de/link/service/journals/00199/papers/9014003/90140669.pdf
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Publisher Info
Article provided by Springer in its journal Economic Theory.

Volume (Year): 14 (1999)
Issue (Month): 3 ()
Pages: 669-684
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Handle: RePEc:spr:joecth:v:14:y:1999:i:3:p:669-684

Note: Received: October 17, 1997; revised version: January 6, 1999
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Related research
Keywords: Endogenous technological change; Leisure-dependent utility; Multiple equilibria.;

Find related papers by JEL classification:
E2 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment
O3 - Economic Development, Technological Change, and Growth - - Technological Change

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This page was last updated on 2009-10-24.

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