In a neoclassical economy with endogenous capital- and labor-augmentingtechnical change the steady-state growth rate of output per worker is shown to increasein the elasticity of substitution between capital and labor. This conrms theassessment of Klump and de La Grandville (2000) that the...

An analytical framework is developed to study the repercussions betweenendogenous capital- and labor-saving technical change and population aging.Following an intuition often attributed to Hicks (1932), I ask whether and howpopulation aging aects the relative scarcity of factors of production,...

The long-run evolution of per-capita income exhibits a structural breakoften associated with the Industrial Revolution. We follow Mokyr (2002) and embedthe idea that this structural break reflects a regime switch in the evolution of technologicalknowledge into a dynamic framework, using Airy...

This paper develops a new open-economy endogenous growth model where technology diffusion allows for a stable and non-degenerate world income distribution. In accordance with the empirical literature, I find that country characteristics such as the social infrastructure, the degree of openness,...

This paper develops a new open-economy endogenous growth model where technology diffusion allows for a stable and non-degenerate world income distribution. In accordance with the empirical literature, I find that country characteristics such as the social infrastructure, the degree of openness,...

An analytical framework is developed to study the repercussions between endogenous capital- and labor-saving technical change and population aging. Following an intuition often attributed to Hicks (1932), I ask whether and how population aging aff ects the relative scarcity of factors of...

In a neoclassical economy with endogenous capital- and labor-augmenting technical change the steady-state growth rate of output per worker is shown to increase in the elasticity of substitution between capital and labor. This confirms the assessment of Klump and de La Grandville (2000) that the...