STEADY‐STATE GROWTH AND DISTRIBUTION WITH AN ENDOGENOUS DIRECTION OF TECHNICAL CHANGE

A. J. Julius

Metroeconomica, 2005, vol. 56, issue 1, 101-125

Abstract: A model of labor‐constrained accumulation and economically directed technical progress has a stable steady state at which the class distribution of income is invariant with respect to population and saving parameters yet sensitive to workers’ stances in wage bargaining and to the tax and transfer policies of a redistributive state.

Date: 2005
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