Technological efficiency and the welfare of the capital-poor in a simple model of endogenous growth

Subrata Guha

Economics Bulletin, 2003, vol. 15, issue 1, 1-9

Abstract: The note demonstrates the existence of a trade-off between technological efficiency (and economic growth) and the welfare of infinitely-lived capital-poor agents in a simple model of endogenous growth with a convex technology. The trade-off can exist even when the wage rate for unskilled labour and its rate of growth are higher along growth paths associated with more efficient technologies.

Keywords: AK; Models (search for similar items in EconPapers)
JEL-codes: O3 O4 (search for similar items in EconPapers)
Date: 2003-05-15
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