Capital-labor substitution, structural change, and growth
نویسندگان
چکیده
منابع مشابه
Capital-labor Substitution and Economic Efficiency1
Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive...
متن کاملLabor- and Capital-augmenting Technical Change
I analyze an economy in which firms can undertake both laborand capital-augmenting technological improvements. In the long run, the economy resembles the standard growth model with purely labor-augmenting technical change, and the share of labor in GDP is constant. Along the transition path, however, there is capital-augmenting technical change and factor shares change. Tax policy and changes i...
متن کاملLabor Productivity: Structural Change and Cyclical Dynamics
A longstanding puzzle of empirical economics is that average labor productivity declines during recessions and increases during booms. This paper provides a framework to assess the empirical importance of competing hypotheses for explaining the observed procyclicality. For each competing hypothesis we derive the implications for cyclical productivity conditional on expectations of future demand...
متن کاملEndogenous capital- and labor-augmenting technical change in the neoclassical growth model
The determinants of the direction of technical change and their implications for economic growth and economic policy are studied in the one-sector neoclassical growth model of Ramsey, Cass, and Koopmans extended to allow for endogenous capitaland labor-augmenting technical change. We develop a novel micro-foundation for the competitive production sector that rests on the idea that the fabricati...
متن کاملCapital, Labor, and Productivity
IN A PREVIOUS PAPER I explored two suggestions about how to understand time-series and cross-country variations in measured total factor productivity growth: increases in the labor force might slow technological change and increases in capital might speed it up. 1 Neither suggestion was new. The conjecture about the effect of labor dates back, at least, to attempts to explain the divergence in ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Theoretical Economics
سال: 2017
ISSN: 1933-6837
DOI: 10.3982/te2106