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| Author: | Ladron-de-Guevara, A. Ortigueira, S. Santos, M. S. |
| Title: | A two-sector model of endogenous growth with leisure. |
| Journal: | Review of Economic Studies
1999 : JUL, VOL. 66:3, p. 609-631 |
| Index terms: | Human capital Leisure Econometric models Equilibrium analysis |
| Language: | eng |
| Abstract: | This paper analyses the equilibrium dynamics of an endogenous growth model with physical and human capital in which leisure enters the utility function. The multiplicity of optimal stationary solutions is linked to the assumption that education has no effect on the quality of leisure, and hence a relatively more educated economy may choose to grow faster, and devote more time to income- directed activities. |
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