Wages and economic growth: foundations of the structuralist approach in a neoclassical model

Alexandre Rands Barros ()

Brazilian Journal of Political Economy, 1994, vol. 14, issue 2, 249-262

Abstract: A neoclassical growth model with failure in the labor market and positive externalitiesaccruing from rising capital intensity is presented. This model is used to supportthe structuralist hypothesis that rising real wages may have a positive effect on GDP growth.The model also challenges the orthodox conclusion that higher propensity to save necessarilyleads to higher rates of GDP growth. JEL Classification: O41; O15.

Keywords: Economic growth; wages; human capital (search for similar items in EconPapers)
Date: 1994
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