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A Modified Neoclassical Growth Model With Endogenous Labor Participation

In light of robust econometric results on the determinants of labor participation in 36 advanced economies reported by Grigoli et al. (2018) and independently by CBO (2018), my paper modifies the Solow (1956) - Swan (1956), or S-S, growth model by making endogenous the rate of labor participation (exogenously fixed at a constant fraction of population in the S-S model). By allowing a fully adjusting natural rate, I find that the positive growth effects of a higher saving rate hold in the transition to and in the steady state (a generalization of the S-S model).

Ketersediaan
Call NumberLocationAvailable
PSB lt.2 - Karya Akhir (Majalah)1
Informasi Detail
Judul Seri
Bulletin of Monetary Economics and Banking
No. Panggil
-
Penerbit
Jakarta : Bank Indonesia.,
Deskripsi Fisik
160 p.
Bahasa
English
ISBN/ISSN
2460-9196
Klasifikasi
NONE
Tipe Isi
text
Tipe Media
-
Tipe Pembawa
-
Edisi
Volume 23, Number 1, 2020
Subjek
Labor participation
Neoclassical growth
Endogenous
Info Detail Spesifik
Bulletin of Monetary Economics and Banking
Pernyataan Tanggungjawab
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