Productive Consumption in a Two-Sector Model of Economic Development
Productive Consumption in a Two-Sector Model of Economic Development
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两部门经济发展模式下的生产性消费
DOI:
10.1007/978-981-16-4457-3_7
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发表时间:
2021
期刊:
影响因子:
--
通讯作者:
Ichiroh Daitoh and Kazuo Nishimura
中科院分区:
文献类型:
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作者:
Forslid Rikard;Toshihiro Okubo;and Karen-Helene Ulltveit-Moe;遠藤正寛;Forslid Rikard and Toshihiro Okubo;Ichiroh Daitoh and Nori Tarui;大久保敏弘;Ichiroh Daitoh and Kazuo Nishimura
In low-income countries, labor productivity crucially depends on per capita consumption that contributes to good nutrition, health, and education. A higher level of per capita consumption improves each worker’s labor productivity. This concept of productive consumption was first formulated in the aggregate growth model by Steger (J Econ Dyn Control (2002) 26:1053–1068) and analyzed using numerical simulations. In this chapter, we investigate the stability of the labor-efficiency model of productive consumption by extending Steger’s model to a two-sector model. We find that a steady state uniquely exists and is saddle-point stable, providing theoretical support for Steger’s simulation results.