Abstract
In this paper, I investigate the effect of substitutability airnong final goods on welfare growth under the environment that productivity growth in each industry is not independent of one another. In such an environment, less substitutability is favorable to the welfare growth rate and the steady state welfare level, contrasting to Baumol (1967) and Lucas (1988).
| Original language | English |
|---|---|
| Journal | Economics Bulletin |
| Volume | 15 |
| Issue number | 16 |
| Publication status | Published - 2007 Aug 1 |
| Externally published | Yes |
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ASJC Scopus subject areas
- Economics, Econometrics and Finance(all)
Cite this
Final goods substitutability and economic growth. / Oikawa, Koki.
In: Economics Bulletin, Vol. 15, No. 16, 01.08.2007.Research output: Contribution to journal › Article
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TY - JOUR
T1 - Final goods substitutability and economic growth
AU - Oikawa, Koki
PY - 2007/8/1
Y1 - 2007/8/1
N2 - In this paper, I investigate the effect of substitutability airnong final goods on welfare growth under the environment that productivity growth in each industry is not independent of one another. In such an environment, less substitutability is favorable to the welfare growth rate and the steady state welfare level, contrasting to Baumol (1967) and Lucas (1988).
AB - In this paper, I investigate the effect of substitutability airnong final goods on welfare growth under the environment that productivity growth in each industry is not independent of one another. In such an environment, less substitutability is favorable to the welfare growth rate and the steady state welfare level, contrasting to Baumol (1967) and Lucas (1988).
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UR - http://www.scopus.com/inward/citedby.url?scp=36748999291&partnerID=8YFLogxK
M3 - Article
AN - SCOPUS:36748999291
VL - 15
JO - Economics Bulletin
JF - Economics Bulletin
SN - 1545-2921
IS - 16
ER -