Bartolini, Stefano; Bonatti, Luigi - Dipartimento di Economia Politica e Statistics, … - 2004
We augment a Solow-Ramsey growth model by including: i) a labor-leisure choice, ii) social capital entering the … production functions, iii) negative externalities affecting social capital and increasing with the level of activity, iv) the … possibility for economic agents to substitute social capital with produced goods. It is shown that the erosion of social capital …