タイトル(掲載誌)Institute of Social and Economic Research Discussion Papers
一般注記We construct a 3-factor, directed technical change growth model that exhibits capital-augmenting technical change on the balanced growth path (BGP), circumventing the issues usually caused by the 2-factor Uzawa growth theorem. We calibrate the model to the United States and consider a non-unitary elasticity of substitution between capital and labor. We show that the model converges to the BGP with capital-augmenting technical change from any initial condition. Our results indicate that natural resources and directed technical change play a central role in explaining balanced growth.
連携機関・データベース国立情報学研究所 : 学術機関リポジトリデータベース(IRDB)(機関リポジトリ)