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Learning-by-doing in two sectors, production structure, leisure and optimal endogenous growth
- Publication Year :
- 2011
- Publisher :
- Marburg: Philipps-University Marburg, Faculty of Business Administration and Economics, 2011.
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Abstract
- A model with two different production sectors and endogenous growth based on the accumulation of sector-specific human capital due to learning-by-doing is presented. Accumulation of experience is measured by means of sectoral production output aggregated over time. Growth is controlled by a dynamic optimisation of the use of time for working in the different sectors or for leisure. Transitional dynamics of production growth, especially of structural change towards a 'new' sector (with relatively scarce experience), of the optimal sectoral distribution of working time and of leisure as well as the corresponding steady state levels are derived and a numerical simulation is performed.
Details
- Language :
- English
- Database :
- OpenAIRE
- Accession number :
- edsair.od......1687..c851f1b856997593b14683f5bc0bf733