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A Discrete Heterogeneous-Group Economic Growth Model with Endogenous Leisure Time
Author
Source
Discrete Dynamics in Nature and Society
Issue
Vol. 2009, Issue 2009 (31 Dec. 2009), pp.1-17, 17 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2009-06-04
Country of Publication
Egypt
No. of Pages
17
Main Subjects
Abstract EN
This paper proposes a one-sector multigroup growth model with endogenous labor supply in discrete time.
Proposing an alternative approach to behavior of households, we examine the dynamics of wealth and income distribution in a competitive economy with capital accumulation as the main engine of economic growth.
We show how human capital levels, preferences, and labor force of heterogeneous households determine the national economic growth, wealth, and income distribution and time allocation of the groups.
By simulation we demonstrate, for instance, that in the three-group economy when the rich group's human capital is improved, all the groups will economically benefit, and the leisure times of all the groups are reduced but when any other group's human capital is improved, the group will economically benefit, the other two groups economically lose, and the leisure times of all the groups are increased.
American Psychological Association (APA)
Zhang, Wei-Bin. 2009. A Discrete Heterogeneous-Group Economic Growth Model with Endogenous Leisure Time. Discrete Dynamics in Nature and Society،Vol. 2009, no. 2009, pp.1-17.
https://search.emarefa.net/detail/BIM-489129
Modern Language Association (MLA)
Zhang, Wei-Bin. A Discrete Heterogeneous-Group Economic Growth Model with Endogenous Leisure Time. Discrete Dynamics in Nature and Society No. 2009 (2009), pp.1-17.
https://search.emarefa.net/detail/BIM-489129
American Medical Association (AMA)
Zhang, Wei-Bin. A Discrete Heterogeneous-Group Economic Growth Model with Endogenous Leisure Time. Discrete Dynamics in Nature and Society. 2009. Vol. 2009, no. 2009, pp.1-17.
https://search.emarefa.net/detail/BIM-489129
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-489129