- Tytuł:
- Endogenous task-based technical change-factor scarcity and factor prices
- Autorzy:
- Irmen, Andreas
- Powiązania:
- https://bibliotekanauki.pl/articles/1011589.pdf
- Data publikacji:
- 2020-06-15
- Wydawca:
- Uniwersytet Ekonomiczny w Poznaniu
- Tematy:
-
economic growth
endogenous technical change
direction of technical change
biased technology - Opis:
- This paper develops a static model of endogenous task-based technical progress to study how factor scarcity induces technological progress and changes in factor prices. The equilibrium technology is multi-dimensional and not strongly factorsaving in the sense of Acemoglu (2010). Nevertheless, labour scarcity induces labour productivity growth. There is a weak but no strong absolute equilibrium bias. This model provides a plausible interpretation of the famous contention of Hicks (1932) about the role of factor prices and factor endowments for induced innovations. It may serve as a microfoundation for canonical macro-economic models. Moreover, it accommodates features like endogenous factor supplies and a binding minimum wage.
- Źródło:
-
Economics and Business Review; 2020, 6, 2; 81-118
2392-1641 - Pojawia się w:
- Economics and Business Review
- Dostawca treści:
- Biblioteka Nauki
Artykuł