Factor Substitution, Long-Run Equilibrium, and Convergence Speed in the Lucas Model

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UDC.coleccionInvestigaciónes_ES
UDC.departamentoEconomíaes_ES
UDC.grupoInvOrganizacións Sociais, Institucións e Mercadoses_ES
UDC.journalTitleEconomics Letterses_ES
UDC.volume232es_ES
dc.contributor.authorGómez, Manuel A.
dc.date.accessioned2024-08-29T08:43:18Z
dc.date.available2024-08-29T08:43:18Z
dc.date.issued2023
dc.descriptionFinanciado para publicación en acceso aberto: Universidade da Coruña/CISUGes_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.sponsorshipGrant 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 commentses_ES
dc.identifier.citationGómez, M. A. (2023). Factor substitution, long-run equilibrium, and convergence speed in the Lucas model. Economics Letters, 232, 111358. 10.1016/j.econlet.2023.111358es_ES
dc.identifier.doihttps://doi.org/10.1016/j.econlet.2023.111358
dc.identifier.issn0165-1765
dc.identifier.urihttp://hdl.handle.net/2183/38747
dc.language.isoenges_ES
dc.publisherElsevieres_ES
dc.relation.projectIDinfo: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 GENERALes_ES
dc.relation.urihttps://doi.org/10.1016/j.econlet.2023.111358es_ES
dc.rightsAtribución-NoComercial 4.0 Internacional (CC BY-NC)es_ES
dc.rights.accessRightsopen accesses_ES
dc.rights.urihttp://creativecommons.org/licenses/by-nc/3.0/es/*
dc.subjectElasticity of substitutiones_ES
dc.subjectEndogenous growthes_ES
dc.subjectConvergence speedes_ES
dc.subjectHuman capitales_ES
dc.titleFactor Substitution, Long-Run Equilibrium, and Convergence Speed in the Lucas Modeles_ES
dc.typejournal articlees_ES
dspace.entity.typePublication
relation.isAuthorOfPublication31163bb0-db47-498e-857a-dafffb96ef44
relation.isAuthorOfPublication.latestForDiscovery31163bb0-db47-498e-857a-dafffb96ef44

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