AbstractThis note analyzes the effect that the specification of technology has on the long-run growth rate and the asymptotic speed of convergence in the one-sector endogenous-growth model. We compare three otherwise identical economies – with the same baseline and parameter values – but with different production technologies: CES, VES or Sobelow, respectively. The long-run growth rate and the asymptotic convergence speed under CES production are lower than the corresponding ones under Sobelow production which, in turn, are lower than those under VES production. This is because a higher elasticity of substitution entails a higher easiness to substitute capital for labor which, in the end, results in a higher long-run growth rate.

中文翻译：

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长期增长、收敛速度与技术规范

摘要 本文分析了在单一部门内生增长模型中，技术规范对长期增长率和收敛速度渐近的影响。我们比较了三个其他方面相同的经济体——具有相同的基线和参数值——但具有不同的生产技术：分别是 CES、VES 或 Sobelow。CES生产下的长期增长率和渐近收敛速度低于Sobelow生产下的相应值，而Sobelow生产下又低于VES生产下的长期增长率和渐近收敛速度。这是因为更高的替代弹性意味着更容易用资本替代劳动力，最终导致更高的长期增长率。