Biased Technological Change, Impatience and Welfare

Laura Liliana Moreno Herrera and Jorge Pérez Pérez

DEGIT Conference Papers from DEGIT, Dynamics, Economic Growth, and International Trade

Abstract: In this paper we use an OLG model where agents are heterogeneous within each generation, differing in their impatience rate. We show that the effects of a capital-using technological change are not symmetric between agents and can cause a reduction in consumption. The asymmetry in impatience rates has consequences on the benefits derived from technological change for further generations. Lower impatience rates lead to higher capital levels, and to higher levels of consumption provided that the economy has enough capital per capita.

Keywords: Biased Technological Change; Social Welfare; Overlapping Generations (search for similar items in EconPapers)
JEL-codes: I31 O33 O40 (search for similar items in EconPapers)
Pages: 17 pages
Date: 2009-06
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Persistent link: https://EconPapers.repec.org/RePEc:deg:conpap:c014_046

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