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Full-Text Articles in Income Distribution
A Dynamic Model Of The Choice Of Technology In Economic Development, Haiwen Zhou, Ruhai Zhou
A Dynamic Model Of The Choice Of Technology In Economic Development, Haiwen Zhou, Ruhai Zhou
Economics Faculty Publications
In this overlapping-generations model, there is unemployment in the manufacturing sector. Manufacturing firms engage in oligopolistic competition and choose technologies to maximize profits. With capital as a fixed cost of production, increasing returns in the manufacturing sector exist. In the unique steady state, first, when individuals become more patient, the savings rate increases while the level of an individual’s income decreases. Second, an increase in population or percentage of income spent on manufactured goods does not change steady-state technology while the level of an individual’s income decreases. Third, an increase in the wage rate leads manufacturing firms to choose more …
An Assessment Of The Validity Of The Unemployment Variable As A Determinant Of Changes In Money Wages In Wage-Estimation Models, James L. Jennings
An Assessment Of The Validity Of The Unemployment Variable As A Determinant Of Changes In Money Wages In Wage-Estimation Models, James L. Jennings
Economics Theses & Dissertations
No abstract.