Endogenous technological change with leisure-dependent utility

Paul de Hek ()

Economic Theory, 1999, vol. 14, issue 3, 669-684

Abstract: This paper investigates the effect of introducing leisure-dependent utility into two models of endogenous technological change. Due to the flexibility in the labour supply the dynamics of the models change significantly. It is shown that if agents attach enough value to leisure in comparison to consumption two balanced growth paths may exist. This implies that economies with the same preferences and the same technology may experience different long-run growth rates.

Keywords: Endogenous technological change; Leisure-dependent utility; Multiple equilibria. (search for similar items in EconPapers)
JEL-codes: E2 O3 (search for similar items in EconPapers)
Date: 1999-10-14
Note: Received: October 17, 1997; revised version: January 6, 1999
References: Add references at CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://link.springer.de/link/service/journals/00199/papers/9014003/90140669.pdf (application/pdf)
Access to the full text of the articles in this series is restricted

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:joecth:v:14:y:1999:i:3:p:669-684

Ordering information: This journal article can be ordered from
http://www.springer. ... eory/journal/199/PS2

Access Statistics for this article

Economic Theory is currently edited by Nichoals Yanneils

More articles in Economic Theory from Springer, Society for the Advancement of Economic Theory (SAET) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().