Journal article

Publication year: 2004

Pages: 47-69

Journal: Journal of Economics

Volume number: 83

Issue number: 1

ISSN: 0931-8658

eISSN: 1617-7134

DOI Link: https://doi.org/10.1007/s00712-003-0064-4

Publisher: Springer

Abstract: 

A two sector model of learning-by-doing measured by means of production aggregated over time and of human capital accumulation in a schooling sector is presented. Time utilization is rival between schooling and learning-by-doing. Depending on the sum of elasticities of the accumulated factors (i.e., of production experience and educational human capital) in both sectors, a situation with or without endogenous growth results. Dynamic optimization of the choice between leisure and working and of the division of human capital between education and production is executed. Transitional dynamics are analyzed for a Cobb-Douglas example and a numerical simulation is performed.

Harvard Citation style: Göcke, M. (2004) Learning-by-doing versus Schooling in a Model of Endogenous Growth, Journal of Economics, 83(1), pp. 47-69. https://doi.org/10.1007/s00712-003-0064-4

APA Citation style: Göcke, M. (2004). Learning-by-doing versus Schooling in a Model of Endogenous Growth. Journal of Economics. 83(1), 47-69. https://doi.org/10.1007/s00712-003-0064-4