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| Author: | Duranton, G. |
| Title: | Endogenous labor supply, growth and overlapping generations |
| Journal: | Journal of Economic Behavior and Organization
2001 : MAR, VOL. 44:3, p. 295-314 |
| Index terms: | ENDOGENOUS VARIABLES GROWTH LABOUR SUPPLY |
| Language: | eng |
| Abstract: | This paper explores a simple model of endogenous growth in an overlapping generations framework when labor supply is made endogenous. The following results are obtained: If leisure and consumption are substitutes, the economy can experience multiple equilibrium paths. If the demand for leisure is inelastic, then the economy enjoys steady growth as in standard models. If leisure and consumption are complements, then production remains bounded, although endogenous growth is possible and socially desirable. |
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