Learning during recessions

Erik Canton

Applied Economics Letters, 1999, vol. 6, issue 1, 21-23

Abstract: A simple two-sector model of endogenous growth is constructed and it is shown that contrary to opportunity cost theory, less human capital is created during economic downturns for plausible values of the intertemporal elasticity of substitution.

Date: 1999
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DOI: 10.1080/135048599353816

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