• Media type: E-Book
  • Title: Endogenous Task-Based Technical Change - Factor Scarcity and Factor Prices -
  • Contributor: Irmen, Andreas [Author]
  • Published: [S.l.]: SSRN, [2020]
  • Published in: CESifo Working Paper ; No. 8215
  • Extent: 1 Online-Ressource (39 p)
  • Language: English
  • DOI: 10.2139/ssrn.3576292
  • Identifier:
  • Origination:
  • Footnote: Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 2020 erstellt
  • Description: This paper develops a static model of endogenous task-based technical progress to study how factor scarcity induces technological progress and changes in factor prices. The equilibrium technology is multi-dimensional and not strongly factor-saving in the sense of Acemoglu (2010). Nevertheless, labor scarcity induces labor productivity growth. There is a weak but no strong absolute equilibrium bias. This model provides a plausible interpretation of the famous contention of Hicks (1932) about the role of factor prices and factor endowments for induced innovations. It may serve as a micro-foundation for canonical macro-economic models. Moreover, it accommodates features like endogenous factor supplies and a binding minimum wage
  • Access State: Open Access