ListarOrganizacións sociais, institucións e mercados por tema "Elasticity of substitution"
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Factor Substitution, Long-Run Equilibrium, and Convergence Speed in the Lucas Model
(Elsevier, 2023)[Abstract] We study the effect of factor substitution on long-run equilibrium in the Lucas model with CES production. The long-run growth rate does not depend on the elasticity of substitution. However, there is a negative ...