WEKO3
アイテム
Decreasing Labor Supply, R&D-Based Growth, and Instability of Economic Dynamics
https://u-hyogo.repo.nii.ac.jp/records/6849
https://u-hyogo.repo.nii.ac.jp/records/6849ad83aed9-4c94-4030-a02a-e330cc210d76
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
RLNL_2213120_EdQ2KDP (499.3 kB)
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| Item type | プレプリント / Preprint(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2023-05-08 | |||||
| タイトル | ||||||
| タイトル | Decreasing Labor Supply, R&D-Based Growth, and Instability of Economic Dynamics | |||||
| タイトル | ||||||
| タイトル | Decreasing Labor Supply, R&D-Based Growth, and Instability of Economic Dynamics | |||||
| 言語 | en | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | R&D growth model | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Unstable economic dynamics | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Multiple steady state | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Externality of R&D efficiency | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| キーワード | ||||||
| 言語 | en | |||||
| 主題Scheme | Other | |||||
| 主題 | Endogenous labor supply | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_1843 | |||||
| 資源タイプ | other | |||||
| 抄録 | ||||||
| 値 | Working time has gradually decreased in the last few decades, along with the continuing growth of advanced economies. Furthermore, there have been some empirical evidence showing emerging economies’ and long-run experiences of advanced economies’ decreasing labor in spite of restrictions on labor statistics. To replicate these phenomena, we develop the model with endogenous technogical chnage and endogenous labor supply, and we find that adding increasing returns of R&D (reasech and development) efficiency, at least for the small input, yields the economic path accompany the decreasing labor supply. Furthermore, the path is stable (not saddle stable), so the steady state has multiple paths under rational expectations, which yields local indeterminacy. This would reflect the modern intermittently-coming economic shocks in both advanced and emerging countries. Furthermore, the model also contains a steady state with no growth trap, and selection among steady states is possible. The model has global indeterminacy, which would be one of the mechanisms for the start of economic growth. |
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| 書誌情報 |
en : Discussion Paper 号 137, p. 1-18, 発行日 2023-01 |
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| 出版者 | ||||||
| 値 | Institute for Policy Analysis and Social Innovation,University of Hyogo | |||||
| 書誌レコードID | ||||||
| 値 | AA12111015 | |||||
| 著者版フラグ | ||||||
| 値 | publisher | |||||
