Working in the market, working at home, and the acquisition of skills: a general-equilibrium approach

Article Abstract:

A general-equilibrium model of growth is used to describe labor-market variables. The model shows that hours per worker have fallen, while education and productivity have increased. The model also shows that older workers have higher wages, smaller differences in market hours, more hours of labor and about the same amount of education as younger workers. Workers with higher wages have more time worked in the labor market, more education and a smaller difference in market hours.

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GATT, trade, and growth

Article Abstract:

The GATT promoted both free trade and international economic growth between 1950 and 1980, but the GATT became less effective in the 1980s. A model of endogenous growth identifies policy variables related to international trade as underlying sources of global economic growth. The model shows that international growth depends on a GATT-type patent system that promotes the diffusion of knowledge and trade in ideas. A lack of enforcement of the system could restrict growth.

International trade

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Labor specialization and endogenous growth

Article Abstract:

The economic literature on endogenous growth has dealt with the issue of the non-convergence of steady-state growth rates over the long run, but little attention has been given to the importance of human capital in promoting growth. Specialization is a key factor in the accumulation of human capital. A model of a closed economy shows that economic growth can occur through an increase in specialization, without learning-by-doing or technological change.

Economic aspects, Human capital

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