Biased Innovations in the Harrod-Domar Model
Revista de Economía del Rosario, Vol. 10, No. 2, December 2007
18 Pages Posted: 6 Feb 2008
Abstract
This paper presents an endogenous growth model where the aggregate production function is a Leontief (1941) and long run growth is completely explained through biased technological change. Under this framework we get two results: (i) if the income share of reproducible factors is high enough, in the long run the economy presents a positive balanced growth path; (ii) if the income share of reproducible factors is low, in the long run the economy behaves as a Harrod-Domar economy without long run growth.
Keywords: endogenous growth, capital using and labor saving technological
JEL Classification: 011, 031, 033
Suggested Citation: Suggested Citation
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