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Subrata Guha
''Technological efficiency and the welfare of the capital-poor in a simple model of endogenous growth''
( 2003, Vol. 15 No.1 )
The note demonstrates the existence of a trade-off between technological efficiency (and economic growth) and the welfare of infinitely-lived capital-poor agents in a simple model of endogenous growth with a convex technology. The trade-off can exist even when the wage rate for unskilled labour and its rate of growth are higher along growth paths associated with more efficient technologies.
Keywords: AK Models
JEL: O3 - Technological Change; Research and Development: General
O4 - Economic Growth and Aggregate Productivity: General
Manuscript Received : May 14 2003 Manuscript Accepted : May 15 2003

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