Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
9732039 | Review of Economic Dynamics | 2005 | 16 Pages |
Abstract
This paper constructs a two-sector model of two-period lived overlapping generations with endogenous occupational choice in which ability-heterogeneous agents choose whether to become educated when young and skilled when old. We show that endogenous occupational choice in this two-sector framework can result in dynamic indeterminacy without complicated preferences/technologies and without requiring the consumption-good production to be more capital-intensive.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Kazuo Mino, Koji Shimomura, Ping Wang,