Technologies for Endogenous Growth

Federico Etro ()

Working Papers - Economics from Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa

Abstract: I microfound endogenous growth through neoclassical technologies with substitutable inputs created by monopolistically competitive innovators. Investment delivers innovations of declining profitability, but increasing labor force generates growth depending on structural technological parameters that determine the elasticities of profits and output relative to the mass of inputs. With a Cobb-Douglas technology in labor and a CES aggregator of inputs growth declines with the substitutability between inputs, with a nested CES technology growth vanishes as long as the substitutability between labor and inputs is less than unitary, and with a Diewert technology growth is sustainable for a high share of inputs in production.

Keywords: Long-run growth; Semi-endogenous growth; input substitutability; population; technology. (search for similar items in EconPapers)
JEL-codes: O3 O4 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2021
New Economics Papers: this item is included in nep-gro
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Journal Article: Technologies for endogenous growth (2023)
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