Employment Policy for Balanced Growth under an Input Constraint

Weiserbs, Daniel;Kervyn, A.;Ingham, A.
(1981) , 18 pages

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  • Weiserbs, DanielUCLouvain
    Author
  • Kervyn, A.UCLouvain
    Author
  • Ingham, A.University of Southampton
    Author
Abstract
We consider a vintage model in which an economy combines labor, capital and an imported resource (raw material) to produce a single manufactured good. The purpose of the paper is to study the behavior of the system when it is shocked out of its "golden rule" path by the sudden imposition of a constraint on the volume of imports of the resource, while the relative price of the resource grows at a rate determined exogeneously.
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Weiserbs, D., Kervyn, A., & Ingham, A. (1981). Employment Policy for Balanced Growth under an Input Constraint (Working Papers Institut des sciences économiques 8107). https://hdl.handle.net/2078.5/278832