|
| |
| 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 |
|
