Final Goods Substitutability and Economic Growth

In this paper, I investigate the effect of substitutability among final goods on welfare growth under the environment that productivity growth in each industry is not independent of one another. In such an environment, less substitutability is favorable to the welfare growth rate and the steady state welfare level, contrasting to Baumol (1967) and Lucas (1988).

MoreLess

Year of publication:	2007-08-01
Authors:	Oikawa, Koki
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 15.2007, 16, p. 1-7
Publisher:	AccessEcon

freely available

Full text |

More access options

Check Google Scholar

In libraries world-wide (WorldCat)

In German libraries (KVK)

subito order

I need help

More details

Extent:	application/pdf
Type of publication:	Article
Classification:	O4 - Economic Growth and Aggregate Productivity ; O3 - Technological Change; Research and Development
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010629498