Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/103209
Authors: 
Correa, Romar
Year of Publication: 
2014
Series/Report no.: 
Economics Discussion Papers 2014-41
Abstract: 
We model the interaction between capitalists and entrepreneurs as a dynamic game. The open-loop Nash equilibrium and the closed-loop Nash equilibrium are distinguished. The elasticity of intertemporal substitution as well as the level and responsiveness of the wage rate to the accumulation of capital are shown to be important for wage-led growth.
Subjects: 
capital accumulation
conflict: cooperation
JEL: 
B51
C73
Creative Commons License: 
http://creativecommons.org/licenses/by/3.0/
Document Type: 
Working Paper

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