| Reference : Endogenous Task-Based Technical Change - Factor Scarcity and Factor Prices |
| Scientific journals : Article | |||
| Business & economic sciences : Macroeconomics & monetary economics | |||
| http://hdl.handle.net/10993/52845 | |||
| Endogenous Task-Based Technical Change - Factor Scarcity and Factor Prices | |
| English | |
Irmen, Andreas  [University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Department of Economics and Management (DEM) >] | |
| 2020 | |
| Economics and Business Review | |
| Sciendo | |
| 6 | |
| 81-118 | |
| Yes | |
| International | |
| 2392-1641 | |
| 2450-0097 | |
| PL | |
| [en] economic growth ; endogenous technical change ; direction of technical change ; biased technology | |
| [en] This paper develops a static model of endogenous task-based technical progress
to study how factor scarcity induces technological progress and changes in factor prices. The equilibrium technology is multi-dimensional and not strongly factorsaving in the sense of Acemoglu (2010). Nevertheless, labour scarcity induces labour productivity growth. There is a weak but no strong absolute equilibrium bias. This model provides a plausible interpretation of the famous contention of Hicks (1932) about the role of factor prices and factor endowments for induced innovations. It may serve as a microfoundation for canonical macro-economic models. Moreover, it accommodates features like endogenous factor supplies and a binding minimum wage. . | |
| Fonds National de la Recherche - FnR | |
| Competitive Growth Theory-CGT | |
| Researchers | |
| http://hdl.handle.net/10993/52845 | |
| FnR ; FNR11591926 > Andreas Irmen > CGT > Competitive Growth Theory > 01/03/2018 > 30/08/2018 > 2017 |
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