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This paper aims to understand the relationship between Radical Economics (RE) and Endogenous growth theory (EGT) based on a comparison of concepts and methods. Our findings include the existence of a set of common concepts, namely “power”, “conflict”, “technology” and...
Persistent link: https://www.econbiz.de/10012976868
In this paper, we define specific (general) human capital in terms of the occupations whose use is spread in a limited (wide) set of industries. We analyze the growth impact of an economy's composition of specific and general human capital, in a model where education and R&D are costly and...
Persistent link: https://www.econbiz.de/10013039933
Barro and Lee (1994), in an influential empirical study of the determinants of economic growth, find that, whereas growth is positively related to male schooling, it is negatively related to female schooling. Stokey (1994) has suggested that this is largely due to the influence of four Asian...
Persistent link: https://www.econbiz.de/10014184328
Since the mid-1980s, growth theorists have increasingly focused on human capital as a source of long-run economic growth. Recently, however, a number of studies have documented that the social returns of human-capital investment are fairly small, implying that the contribution of human capital...
Persistent link: https://www.econbiz.de/10014221039
I develop a growth model in which R&D resources can be directed either to the discovery of new technologies (inventions) or to the improvement of the quality of machines without altering their underlying technology (innovations). Learning-by-doing is an important determinant of the relative...
Persistent link: https://www.econbiz.de/10014141897
The existence of an environmental limit in the Solow-Swan economy changes the nature of economic growth, but does not preclude it. When atmospheric greenhouse gases reach a predetermined absolute threshold, further growth requires a permanently expanding, resource-intensive mitigation effort. If...
Persistent link: https://www.econbiz.de/10014464116
Persistent link: https://www.econbiz.de/10012053375
Aging of the population will affect the growth path of all countries. To assess the historical and future importance of this claim we use two popular approaches and evaluate their merits and disadvantages by confronting them to Swedish data. We first simulate an endogenous growth model with...
Persistent link: https://www.econbiz.de/10012732879
System and economic growth in an overlapping generation economy, in which altruistic parents finance the education of their children and leave bequests. Unlike the existing literature, we model intergenerational altruism by assuming that children's income during adulthood is an argument of...
Persistent link: https://www.econbiz.de/10013320268
This paper develops a model with increasing adult life expectancy as the driving force of the economic and demographic transition. We show that if parents invest their own time into children's human capital, rising adult life expectancy unambiguously increases fertility. With children educated...
Persistent link: https://www.econbiz.de/10014041372