Factor substitution, long-run growth, and speed of convergence in the one-sector convex endogenous-growth model

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UDC.coleccionInvestigación
UDC.departamentoEconomía
UDC.endPage21
UDC.grupoInvOrganizacións Sociais, Institucións e Mercados
UDC.issue1
UDC.journalTitleMetroeconomica
UDC.startPage2
UDC.volume71
dc.contributor.authorGómez, Manuel A.
dc.date.accessioned2025-10-16T14:36:30Z
dc.date.available2025-10-16T14:36:30Z
dc.date.issued2020
dc.descriptionThis is the peer reviewed version of the article which has been published in final form at https://doi.org/10.1111/meca.12263
dc.description.abstract[Abstract] We study the link between the elasticity of factor substitution, long-run growth and the speed of convergence in the one-sector convex growth model. Technology is such that the marginal product of capital is bounded away from zero leading to endogenous growth. In particular, we consider the CES, VES and Sobelow production functions. We show that for two economies differing uniquely in initial factor substitutability, the economy with the higher initial elasticity of substitution will feature a higher long-run growth rate and a higher speed of convergence, irrespective of the specification of the production function.
dc.description.sponsorshipThis work has been supported by the Grant PID2021-127599NB-I00 funded by MCIN/AEI/10.13039/501100011033
dc.identifier.citationGómez, M.A. (2020). Factor substitution, long-run growth, and speed of convergence in the one-sector convex endogenous-growth model. Metroeconomica 71, 2–21. https://doi.org/10.1111/meca.12263
dc.identifier.doi10.1111/meca.12263
dc.identifier.issn1467-999X
dc.identifier.urihttps://hdl.handle.net/2183/46001
dc.language.isoeng
dc.publisherWiley
dc.relation.projectIDinfo:eu-repo/grantAgreement/AEI/Plan Estatal de Investigación Científica y Técnica y de Innovación 2021-2023/PID2021-127599NB-I00/ES/ANTICIPACION EN MODELOS DINAMICOS DE EQUILIBRIO GENERAL
dc.relation.urihttps://doi.org/10.1111/meca.12263
dc.rightsThis article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions. This article may not be enhanced, enriched or otherwise transformed into a derivative work, without express permission from Wiley or by statutory rights under applicable legislation. Copyright notices must not be removed, obscured or modified. The article must be linked to Wiley’s version of record on Wiley Online Library and any embedding, framing or otherwise making available the article or pages thereof by third parties from platforms, services and websites other than Wiley Online Library must be prohibited.
dc.rights.accessRightsopen access
dc.subjectElasticity of substitution
dc.subjectLong-run growth
dc.subjectEndogenous growth
dc.subjectSpeed of convergence
dc.titleFactor substitution, long-run growth, and speed of convergence in the one-sector convex endogenous-growth model
dc.typejournal article
dc.type.hasVersionAM
dspace.entity.typePublication
relation.isAuthorOfPublication31163bb0-db47-498e-857a-dafffb96ef44
relation.isAuthorOfPublication.latestForDiscovery31163bb0-db47-498e-857a-dafffb96ef44

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