A note on work-leisure choice, human capital accumulation, and endogenous growth

dc.creator	Psarianos, I. N.	en
dc.date.accessioned	2015-11-23T10:46:12Z
dc.date.available	2015-11-23T10:46:12Z
dc.date.issued	2007
dc.identifier	10.1016/j.rie.2007.09.001
dc.identifier.issn	10909443
dc.identifier.uri	http://hdl.handle.net/11615/32521
dc.description.abstract	The growth model of Lucas [Lucas Jr., R.E., 1988. On the mechanics of economic development. Journal of Monetary Economics 22 (1), 3-42] is enriched with people having the opportunity to optimally allocate a fraction of their time to non-productive activities ('leisure'). It is found that the chosen amount of leisure reduces the steady-state rate of growth of per capita output. This implies that the association between income and welfare may not be as strong as it is usually assumed to be. The optimal allocation of time among activities depends on some of the parameters and the marginal product of physical capital per capita. © 2007 Elsevier Ltd. All rights reserved.	en
dc.source.uri	http://www.scopus.com/inward/record.url?eid=2-s2.0-36549056497&partnerID=40&md5=5e18ddc0530cc8f4c6a2c8dd67517171
dc.subject	Endogenous growth	en
dc.subject	Human capital	en
dc.subject	Time allocation	en
dc.subject	Welfare	en
dc.title	A note on work-leisure choice, human capital accumulation, and endogenous growth	en
dc.type	journalArticle	en

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