Regional Growth with Endogenous Time Distribution
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Various models were proposed to explain why regions trade and how interregional trade patterns are determined. Different economists emphasize various factors, such as differences in resources, capital accumulation and technology, in explaining trade issues. In Chapter 2, we studied regional growth and interregional trade patterns. The concern of this chapter is still to extend the model developed in Chapter 2. The main difference of this chapter from Chapter 2 is related to behavior of households of different regions. We consider endogenous time in our chapter.
KeywordsWage Rate Capital Stock Capital Accumulation Typical Person Perfect Competition
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