The Harrod-Balassa-Samuelson scenario revisited

Available from: 
October 2013
Paper author(s): 
Carlos M. Urzúa (Tecnológico de Monterrey)
Topic: 
Globalization - Trade
Year: 
2013

It is shown in this paper that the Harrod-Balassa-Samuelson causal model, as it is currently used to explain the Penn effect, can be extended to include general neoclassical production functions and the variants of neutral technological progress, be that Hicks-neutral, Solow-neutral (capital-augmenting) or Harrod-neutral (labor-augmenting).

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Research section: 
Lacea 2013 annual meeting
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