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We study how the work effort and output of non-migrants in a village economy are affected when a member of the village population migrates. Given that individuals dislike low relative income, and that migration modifies the social space of the non-migrants, we show why and how the non-migrants...
Persistent link: https://www.econbiz.de/10014093390
between capitalists and workers (such as taxes and market imperfections) on the log-run growth path of an economy. More … reduced to either an endogenous growth model or Neoclassical growth model. For a range of the parameters of technology and … policy variables, the model generates a balanced growth path where capitalists continue to accumulate physical capital and …
Persistent link: https://www.econbiz.de/10013015891