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A model with two different production sectors and endogenous growth based on the accumulation of sector-specific human capital due to learning-by-doing is presented. Accumulation of experience is measured by means of sectoral production output aggregated over time. Growth is controlled by a...
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Most economic models for time allocation ignore constraints on what people can actually do with their time. Economists … household time allocation. The empirical results support the framework and find an increasing marginal opportunity cost of time …
Persistent link: https://www.econbiz.de/10012759700
Most economic models for time allocation ignore constraints on what people can actually do with their time. Economists … household time allocation. The empirical results support the framework and find an increasing marginal opportunity cost of time …
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