Title: Factor substitution and long-run growth in the Lucas model with elastic labor supply
Abstract: We show that there exists a positive (resp., negative) relationship between the elasticity of factor substitution and long-run growth if the baseline ratio of physical capital to effective labor is above (resp., below) its steady-state value in the Lucas model with elastic labor supply.
Publication Year: 2017
Publication Date: 2017-10-01
Language: en
Type: article
Indexed In: ['crossref']
Access and Citation
Cited By Count: 5
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