A discrete economic growth model with endogenous labor

A Discrete Economic Growth Model with Endogenous Labor

This paper proposes an alternative approach to economic growth with endogenous labor supply. The production side is the same as the Solow model, the Ramsey model, and the Diamond model. But we deal with the behavior of consumers differently from the traditional approaches by proposing a concept of disposable income (which is the sum of the wealth available for use, the current income from inter...

An economic growth model with endogenous labor shift under a dual economy

In this work, an economic growth model with endogenous labor shift under a dual economy is given. It is proved that the model has unique nonzero equilibrium and its solution is globally asymptotically stable, and the aggregate capital growth of the industrial sector and the labor shift appear in eight different patterns at different initial conditions. c © 2007 Elsevier Ltd. All rights reserved.

A Discrete Heterogeneous-Group Economic Growth Model with Endogenous Leisure Time

This paper proposes a one-sector multigroup growth model with endogenous labor supply in discrete time. Proposing an alternative approach to behavior of households, we examine the dynamics of wealth and income distribution in a competitive economy with capital accumulation as the main engine of economic growth. We show how human capital levels, preferences, and labor force of heterogeneous hous...

A Discrete Two-Sector Economic Growth Model

A Discrete Monetary Economic Growth Model with the MIU Approach

This paper proposes an alternative approach to economic growth with money. The production side is the same as the Solow model, the Ramsey model, and the Tobin model. But we deal with behavior of consumers differently from the traditional approaches. The model is influenced by the money-inthe-utility MIU approach in monetary economics. It provides a mechanism of endogenous saving which the Solow...