A dynamic analysis of an endogenous growth model with leisure
AbstractThe main goal in this paper is to analyze an economic model of endogenous growth where human capital accumulation acts as the engine propelling economic activity. The added ingredient in our model is that agents derive utility from consumption and leisure, where leisure is defined as the amount of time devoted to those activities augmented by the level of education. Under regular conditions we show that there is a unique globally stable balanced growth path. We also provide a characterization of the behavior of our economic variables along the transition.
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Bibliographic InfoArticle provided by Springer in its journal Economic Theory.
Volume (Year): 16 (2000)
Issue (Month): 1 ()
Note: Received: May 26, 1998; revised version: September 9, 1999
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Web page: http://link.springer.de/link/service/journals/00199/index.htm
Other versions of this item:
- Salvador Ortigueira, 1997. "A Dynamic Analysis of an Endogenous Growth Model with Leisure," Working Papers 9705, Centro de Investigacion Economica, ITAM.
- E20 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
- J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
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