1 option
Persistent Differences in National Productivity Growth Rates with A Com-mon Technology and Free Capital Mobility: The Roles of Private Thrift, ... / Willem H. Buiter, Kenneth M. Kletzer.
- Format:
- Book
- Author/Creator:
- Buiter, Willem H.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w3637.
- NBER working paper series no. w3637
- Language:
- English
- Subjects (All):
- Labor economics.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Persistent Differences in National Productivity Growth Rates with A Com-mon Technology and Free Capital Mobility
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1991.
- Cambridge, Mass. : National Bureau of Economic Research, 1991.
- Summary:
- The paper develops a two-country endogenous growth model to investigate possible causes for the existence and persistence of productivity growth differentials between nations despite a common technology, constant returns to scale and perfect international capital mobility. Private consumption is derived from a three-period overlapping generations specification. The source of productivity (growth) differentials in our model is the existence of a non-traded capital good ('human capital') whose augmentation requires a non-traded current input (time spent by the young in education rather than leisure) We consider the influence on productivity growth differentials of private thrift, public debt, the taxation of capital and savings and of policy towards human capital formation.
- Notes:
- Print version record
- February 1991.
- Includes bibliographical references.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.