Article ID Journal Published Year Pages File Type
10127719 Economics Letters 2018 4 Pages PDF
Abstract
We study the link between factor substitutability and the speed of convergence in the Ramsey-Cass-Koopmans model with elastic labor supply and normalized CES production. If the baseline value of capital per unit of effective labor is below its steady-state value, an increase in the elasticity of substitution reduces the convergence speed.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Authors
,