A Two-Sector Model of Endogenous Growth with Leisure

Antonio Ladron de Guevara, Salvador Ortigueira and Manuel Santos
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Antonio Ladron de Guevara: Department of Economics and Business, Universitat Pompeu Fabra

No 9503, Working Papers from Centro de Investigacion Economica, ITAM

Abstract: This paper analyzes the equilibrium dynamics of an endogenous growth model with physical and human capital in which leisure considerations have a direct effect on the utility function. Even in the absence of technological externalities our model may contain multiple balanced paths. These multiple steady-state configurations are directly related to the modelization of leisure, and may provide an explanation on certain patterns of behavior found in economic growth and labor markets concerning human capital accumulation and worked hours.

Pages: 44 pages
Date: 1995-08
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Related works:
Journal Article: A Two-Sector Model of Endogenous Growth with Leisure (1999)
Working Paper: A two-sector model of endogenous growth with leisure (1995)
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Persistent link: https://EconPapers.repec.org/RePEc:cie:wpaper:9503

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