Labor supply and the no-growth trap

Guilherme Strifezzi Leal () and David Turchick

No 2019_54, Working Papers, Department of Economics from University of São Paulo (FEA-USP)

Abstract: We include elastic labor supply and risk aversion in a standard vertical innovation model in order to address four main questions. First, under what conditions will we find workers in the R&D sector of the economy? Second, under what conditions will these workers actually do any research? Third, can a simple redistributive policy provide an escape route from the so-called no-growth trap? And fourth, to what extent is this policy capable of correcting the inherent inefficiencies of the model?

Keywords: labor supply; Schumpeterian growth; income redistribution; no-growth trap; research effort (search for similar items in EconPapers)
JEL-codes: H21 O3 O4 (search for similar items in EconPapers)
Date: 2019-12-31
New Economics Papers: this item is included in nep-gro, nep-ino and nep-lma
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