题 目：A Generalized Growth Model and the Direction of Technological Progress

主讲人：黎德福，同济大学经济与管理学院副教授

主讲人简介：

黎德福，经济学博士，主要研究领域为宏观经济学与区域经济学。已经在在《经济研究》、《经济学季刊》、《世界经济》、Economics Bulletin等期刊发表论文十多篇。

主持人：王弟海 半岛·体育bob官方网站经济系教授

时间：2019年12月17日(周二)下午13:30 - 15:00

地点：半岛·体育bob官方网站514会议室

Abstract：Based on a general growth model, this paper finds that the steady-state direction of technological progress is determined by the scale return of the production function and the relative factor supply elasticities. A specific version of that model extends Acemoglu (2002) to provide the underlying determinants of the supply elasticities and demonstrates that the relative price (Hicks, 1932) and relative market size (Acemoglu, 2002) have only a short-term impact on the direction of technological progress. A consequence of the analysis is that the steady-state technological progress is purely labor-augmenting (i.e. delivers Uzawa’s steady-state theorem) if and only if the scale return of the production function is constant and the supply elasticity of capital is infinite. Analogously, an infinite labor supply elasticity is required if labor-augmenting technological progress is to be excluded prior to the Industrial Revolution. Accordingly, changing factor supply elasticities may have induced the Industrial Revolution.