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Work ethics affect labour supply. This idea is modelled assuming that work is habit forming. We introduce working habits in a neoclassical growth model and compare its outcomes with a model without habit formation. In addition, we analyse the impact of different forms of technical progress. The...
Persistent link: https://www.econbiz.de/10005313070
This paper analyzes a Kaldor-Pasinetti two-class model of growth and distribution in which fiscal activity is explicitly introduced along the lines of L. Pasinetti (1989). Following the approach of W. Darity (1981), the model is reduced to a dynamic system where the Cambridge equation is one of...
Persistent link: https://www.econbiz.de/10005177440