Multiplicity of Balanced Growth Paths in an Endogenous Growth Model with Elastic Labor Supply

Gerhard Sorger

A chapter in Dynamic Perspectives on Managerial Decision Making, 2016, pp 189-200 from Springer

Abstract: Abstract We consider the neoclassical one-sector growth model in continuous time with elastic labor supply and a learning-by-doing externality. It is shown that this model can have a continuum of balanced growth paths. Some of these balanced growth paths can be locally unique (determinate) whereas others can be indeterminate.

Keywords: Balanced growth; Elastic labor supply; Learning-by-doing; Non-uniqueness; One-sector growth model; C61; E13; O41 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:spr:dymchp:978-3-319-39120-5_11

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DOI: 10.1007/978-3-319-39120-5_11

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