A One-Sector Model with Learning-by-doing, Investment, Leisure, and Optimal Growth

Matthias Göcke ()

No 201036, MAGKS Papers on Economics from Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung)

Abstract: A one-sector model of endogenous growth based on the accumulation of real capital by saving/investing and accumulation of human capital via learning-by-doing is presented. Experience is measured by means of production output aggregated over time. Explicitly separating learning and real capital accumulation allows for an independent control of the learning process via working time. Though based on a simple one-sector model, accumulation of both types of capital is endogenously determined and a simultaneous dynamic optimisation of leisure/working time and of consumption/saving is executed. Transitional dynamics are derived and numerical simulations performed.

JEL-codes: C61 D90 O40 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2010
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:mar:magkse:201036

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