Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/56515 
Year of Publication: 
2010
Series/Report no.: 
MAGKS Joint Discussion Paper Series in Economics No. 36-2010
Publisher: 
Philipps-University Marburg, Faculty of Business Administration and Economics, Marburg
Abstract: 
A one-sector model of endogenous growth based on the accumulation of real capital by saving/investing and accumulation of human capital via learning-by-doing is presented. Experience is measured by means of production output aggregated over time. Explicitly separating learning and real capital accumulation allows for an independent control of the learning process via working time. Though based on a simple one-sector model, accumulation of both types of capital is endogenously determined and a simultaneous dynamic optimisation of leisure/working time and of consumption/saving is executed. Transitional dynamics are derived and numerical simulations performed.
JEL: 
C61
D90
O40
Document Type: 
Working Paper

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