Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
10127719 | Economics Letters | 2018 | 4 Pages |
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
Manuel A. Gómez,