Publié le 10 octobre 2025
–
Mis à jour le 29 octobre 2025
Date(s)
le 6 novembre 2025
Lieu(x)
Sophia Antipolis
GREDEG - Salle PICASSO
GREDEG
Title: Endogenous Capital-Augmenting Technological Change
Abstract: We build and calibrate a directed technical change growth model with positive capital-augmenting technical change along the balanced growth path, circumventing the restrictions usually posed by the Uzawa steady-state theorem. We use the model to study how policy affects the rate and direction of technical change, as well as the labor share of income. For a given level of expenditure, capital-augmenting R&D subsidies provide the largest boost to economic growth, labor-augmenting subsidies provide the smallest boost, and uniform subsidies to all technologies are an intermediate case. Capital-augmenting R&D subsidies increase the labor share, while labor-augmenting R&D subsidies decrease the labor share. Uniform R&D subsidies are non-neutral and increase the labor share.
More about Ryo Horii
Abstract: We build and calibrate a directed technical change growth model with positive capital-augmenting technical change along the balanced growth path, circumventing the restrictions usually posed by the Uzawa steady-state theorem. We use the model to study how policy affects the rate and direction of technical change, as well as the labor share of income. For a given level of expenditure, capital-augmenting R&D subsidies provide the largest boost to economic growth, labor-augmenting subsidies provide the smallest boost, and uniform subsidies to all technologies are an intermediate case. Capital-augmenting R&D subsidies increase the labor share, while labor-augmenting R&D subsidies decrease the labor share. Uniform R&D subsidies are non-neutral and increase the labor share.
More about Ryo Horii
Date(s)
Le
6 novembre 2025 14:00
- 15:30
