Habit formation, work ethics and technological progress

Faria, Joao Ricardo and Leon-Ledesma, Miguel A. (2004) Habit formation, work ethics and technological progress. Manchester School, 72 (3). pp. 403-413. ISSN 1463-6786. (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided)

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Work ethics affect labour supply. This idea is modelled assuming that work is habit forming. We introduce working habits in a neoclassical growth model and compare its outcomes with a model without habit formation. In addition, we analyse the impact of different forms of technical progress. The findings are that (i) labour supply in the habit formation case is higher than in the neoclassical case; (ii) unlike in the neoclassical case, labour supply in the presence of habit formation depends on the kind of technical progress; and (iii) the kind of technical progress will hence affect the steady-state levels of consumption, capital stock and output.

Item Type: Article
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculties > Social Sciences > School of Economics
Depositing User: Miguel Leon-Ledesma
Date Deposited: 06 Oct 2008 01:00
Last Modified: 28 May 2014 14:27
Resource URI: https://kar.kent.ac.uk/id/eprint/6145 (The current URI for this page, for reference purposes)
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