Growth versus equity: A CGE analysis for effects of factor-biased technical progress on economic growth and employment

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• 作者：Sungmoon Jung^a ; ^{narkimess@snu.ac.kr} ; Jeong-Dong Lee^b ; ^{leejd@snu.ac.kr} ; Won-Sik Hwang^c ; ^{yel0sik@snu.ac.kr} ; Yeongjun Yeo^b ; ^{yyj913@snu.ac.kr}
• 关键词：C68 ; D58 ; O30 ; O40
• 刊名：Economic Modelling
• 出版年：2017
• 出版时间：January 2017
• 年：2017
• 卷：60
• 期：Complete
• 页码：424-438
• 全文大小：1335 K
• 卷排序：60

文摘

We examine the economy-wide impacts of factor-biased technical changes, focusing on the Korean economy. Simulation results from a CGE model are analyzed in terms of economic growth, employment, and distribution. Results show that technological innovation drives economic growth with productivity improvements. However, it is found that factor-biased technical change increases demand for capital and high-skilled labor. A shift in the value-added composition is found to increase income inequality in the economy.