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Wages and economic growth: foundations of the structuralist approach in a neoclassical model

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  • Alexandre Rands Barros

Abstract

A neoclassical growth model with failure in the labor market and positive externalitiesaccruing from rising capital intensity is presented. This model is used to supportthe structuralist hypothesis that rising real wages may have a positive effect on GDP growth.The model also challenges the orthodox conclusion that higher propensity to save necessarilyleads to higher rates of GDP growth. JEL Classification: O41; O15.

Suggested Citation

  • Alexandre Rands Barros, 1994. "Wages and economic growth: foundations of the structuralist approach in a neoclassical model," Brazilian Journal of Political Economy, Center of Political Economy, vol. 14(2), pages 249-262.
    • Handle: RePEc:ekm:repojs:v:14:y:1994:i:2:p:249-262:id:1282
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1282/1267
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    Keywords

    Economic growth; wages; human capital;
    All these keywords.

    JEL classification:

    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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