Human capital accumulation, home production and equilibrium dynamics

Yunfang Hu

    研究成果: Article査読

    5 被引用数 (Scopus)

    抄録

    In this paper, we construct a three-sector endogenous growth model in which long-run growth is propelled by human capital accumulation. We show that although the addition of a home sector to the standard two-sector endogenous growth model preserves the well-behaved balanced growth equilibrium properties, it generates new transitional dynamics around the balanced growth path. It is shown that, when there is a positive shock to physical capital, our model is more likely to exhibit paradoxical growth than are standard multisector endogenous growth models that exclude home production. Our analysis adds new results to those from the related literature on leisure.

    本文言語English
    ページ(範囲)292-311
    ページ数20
    ジャーナルJapanese Economic Review
    59
    3
    DOI
    出版ステータスPublished - 2008

    ASJC Scopus subject areas

    • 経済学、計量経済学

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