Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/103209 
Authors: 
Year of Publication: 
2014
Series/Report no.: 
Economics Discussion Papers No. 2014-41
Publisher: 
Kiel Institute for the World Economy (IfW), Kiel
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: 
cc-by Logo
Document Type: 
Working Paper

Files in This Item:
File
Size
227.13 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.