The effect of difference in the saturation speed of logistic demandfunction on the dynamism of the labour market under Poisson process

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This study examines the effect of difference in the saturation speed of demand for products as a result of the innovation following Poisson process on the dynamism of the labour market. By a computer simulation of the pure labour model, it is shown that the expectation of employment rate is higher and that of growth of real wage rate is lower, as the speed of demand saturation is faster. It is also shown that the same results are obtained in the model where capital goods are introduced. With respect to income distribution, the expectation of profit share is higher at least at early periods, as the speed of demand saturation is faster. Furthermore, the study deals with an existence, a stability condition, and a uniqueness of the equilibrium rate of profit in an unbalanced growth process, the existing literatures on which are scarce.