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Technological change, human capital update and growth policies

✍ Scribed by Fernando Pueyo; Marcos Sanso

Publisher
Springer
Year
2005
Tongue
English
Weight
174 KB
Volume
7
Category
Article
ISSN
1435-5469

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This paper shows that in a three-sector model of endogenous growth with physical and human capital accumulation, taxation policy can generate indeterminacy under plausible parameterizations. The key for this result is that the accumulation of human capital is a non-market activity in which individua