Endogenous technological change with leisure-dependent utility.

P.A. Hek, de

doi:10.1007/s001990050347

Endogenous technological change with leisure-dependent utility.

P.A. Hek, de

Research output: Contribution to journal › Article › Academic › peer-review

7 Citations (Scopus)

Abstract

This paper investigates the effect of introducing leisure-dependent utility into two models of endogenous technological change. Due to the flexibility in the labour supply the dynamics of the models change significantly. It is shown that if agents attach enough value to leisure in comparison to consumption two balanced growth paths may exist. This implies that economies with the same preferences and the same technology may experience different long-run growth rates.

Original language	English
Pages (from-to)	669-684
Number of pages	16
Journal	Economic Theory
Volume	14
Issue number	3
DOIs	https://doi.org/10.1007/s001990050347
Publication status	Published - 1999

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JO - Economic Theory

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Endogenous technological change with leisure-dependent utility.

Abstract

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