A Two-sector Model of Endogenous Growth with Leisure

  title={A Two-sector Model of Endogenous Growth with Leisure},
  author={Manuel S. Santos},
In this paper we analyze a class of endogenous growth models with physical and human capital and with three altematives uses of time: unqualified leisure, work and education. In contrast to some other related models, we find that, even in the absence of technological extemalities, there could be multiple balanced paths. We provide a characterization of the qualitative behavior of consumption, leísure, work and education over those balanced paths, and study their transitional dynamics. ·Santos… CONTINUE READING
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