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Factor Substitution, Long-Run Equilibrium, and Convergence Speed in the Lucas Model
| dc.contributor.author | Gómez Suárez, Manuel A. | |
| dc.date.accessioned | 2024-08-29T08:43:18Z | |
| dc.date.available | 2024-08-29T08:43:18Z | |
| dc.date.issued | 2023 | |
| dc.identifier.citation | Gómez, M. A. (2023). Factor substitution, long-run equilibrium, and convergence speed in the Lucas model. Economics Letters, 232, 111358. 10.1016/j.econlet.2023.111358 | es_ES |
| dc.identifier.issn | 0165-1765 | |
| dc.identifier.uri | http://hdl.handle.net/2183/38747 | |
| dc.description | Financiado para publicación en acceso aberto: Universidade da Coruña/CISUG | es_ES |
| dc.description.abstract | [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 (positive) relationship between the elasticity of factor substitution and the convergence speed if the baseline ratio of physical capital to effective labor is below (above) its steady-state value. | es_ES |
| dc.description.sponsorship | Grant PID2021-127599NB-I00 funded by MCIN/AEI/10.13039/ 501100011033 and by “ERDF A way of making Europe”. Funding for open access charge: Universidade da Coruña/CISUG . I would like to thank an anonymous referee for her/his helpful comments | es_ES |
| dc.language.iso | eng | es_ES |
| dc.publisher | Elsevier | es_ES |
| dc.relation | info:eu-repo/grantAgreement/AEI/Plan Estatal de Investigación Científica, Técnica y de Innovación 2021-2023/PID2021-127599NB-I00/ES/ANTICIPACION EN MODELOS DINAMICOS DE EQUILIBRIO GENERAL | es_ES |
| dc.relation.uri | https://doi.org/10.1016/j.econlet.2023.111358 | es_ES |
| dc.rights | Atribución-NoComercial 4.0 Internacional (CC BY-NC) | es_ES |
| dc.rights.uri | http://creativecommons.org/licenses/by-nc/3.0/es/ | * |
| dc.subject | Elasticity of substitution | es_ES |
| dc.subject | Endogenous growth | es_ES |
| dc.subject | Convergence speed | es_ES |
| dc.subject | Human capital | es_ES |
| dc.title | Factor Substitution, Long-Run Equilibrium, and Convergence Speed in the Lucas Model | es_ES |
| dc.type | info:eu-repo/semantics/article | es_ES |
| dc.rights.access | info:eu-repo/semantics/openAccess | es_ES |
| UDC.journalTitle | Economics Letters | es_ES |
| UDC.volume | 232 | es_ES |
| dc.identifier.doi | https://doi.org/10.1016/j.econlet.2023.111358 |
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