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A Modified Neoclassical Growth Model with Endogenous Labor Participation

In: Economic Adjustment and Growth Theory and Practice

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  • Delano S Villanueva
  • Roberto S Mariano
  • Diwa C Guinigundo
  • Abbas Mirakhor

Abstract

The following sections are included:IntroductionThe Modified Growth ModelDiscussionReduced ModelComparative DynamicsThe Growth Effects of a Higher Saving RateThe Growth Effects of an Increase in Technical ChangeThe Growth Effects of a Decline in Labor ParticipationRelated IssuesConclusionReferences

Suggested Citation

  • Delano S Villanueva & Roberto S Mariano & Diwa C Guinigundo & Abbas Mirakhor, 2023. "A Modified Neoclassical Growth Model with Endogenous Labor Participation," World Scientific Book Chapters, in: Economic Adjustment and Growth Theory and Practice, chapter 3, pages 44-64, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811258787_0003
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    References listed on IDEAS

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    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    3. Delano S Villanueva & Roberto S Mariano & Diwa C Guinigundo & Abbas Mirakhor, 2023. "Openness, Human Development, and Fiscal Policies," World Scientific Book Chapters, in: Economic Adjustment and Growth Theory and Practice, chapter 6, pages 119-165, World Scientific Publishing Co. Pte. Ltd..
    4. Rebelo, Sergio, 1991. "Long-Run Policy Analysis and Long-Run Growth," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 500-521, June.
    5. T. W. Swan, 1956. "ECONOMIC GROWTH and CAPITAL ACCUMULATION," The Economic Record, The Economic Society of Australia, vol. 32(2), pages 334-361, November.
    6. Solow, Robert M, 1988. "Growth Theory and After," American Economic Review, American Economic Association, vol. 78(3), pages 307-317, June.
    7. K. J. Arrow, 1971. "The Economic Implications of Learning by Doing," Palgrave Macmillan Books, in: F. H. Hahn (ed.), Readings in the Theory of Growth, chapter 11, pages 131-149, Palgrave Macmillan.
    8. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    1. Delano S Villanueva & Roberto S Mariano & Diwa C Guinigundo & Abbas Mirakhor, 2023. "Finance and Endogenous Growth," World Scientific Book Chapters, in: Economic Adjustment and Growth Theory and Practice, chapter 5, pages 96-118, World Scientific Publishing Co. Pte. Ltd..

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    More about this item

    Keywords

    Adjustment and Growth; Testing Growth Models; Labor Participation; Human and Intellectual Capital; Finance and Growth; Adaptive Inflationary Expectations; Learning by Doing; Optimal Saving; Sustainable Foreign Debt; Stabilization and Structural Policies; Emerging Economy Case Study;
    All these keywords.

    JEL classification:

    • E - Macroeconomics and Monetary Economics
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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