Factor saving innovations and factor income shares
Factor saving innovations and factor income shares
复制标题
要素节约创新和要素收入份额
DOI：
10.2139/ssrn.967281
复制
发表时间：
2007
期刊：
影响因子：
--
通讯作者：
Hernando Gonzalez
中科院分区：
文献类型：
--
作者：
Hernando Gonzalez
我们提出了一种内生增长模型，其中创新是要素节约。技术的改变是有代价的，只有当收益大于成本时，技术变革才会发生。由于要素节约型创新带来的收益取决于要素丰度，因此有偏向的创新会对要素供给的变化做出反应。因此，随着经济体资本变得更加充裕，主体会尝试更密集地使用资本。因此，（a）相对于可再生要素的产出弹性取决于经济体的资本丰度，（b）可再生要素的收入份额随着经济增长而增加。该模型的另一个见解是，在某些经济体中，从长期来看，生产函数收敛于 AK，而在其他经济体中，长期增长为零
We present an endogenous growth model where innovations are factor saving. Technologies can be changed paying a cost and technological change takes place only if the benefits are larger than the costs. Since the gains derived from factor saving innovations depend on factor abundance, biased innovations respond to changes in factors supply. Therefore, as an economy becomes more capital abundant agents try to use capital more intensively. Consequently, (a) the elasticity of output with respect to reproducible factors depends on the capital abundance of the economy and (b) the income share of reproducible factors increases as the economy grows. Another insight of the model is that in some economies the production function converges to an AK in the long run, while in others long-run growth is zero