Productive consumption, the intertemporal consumption trade-off and growth.
type: Item
instance of: scholarly article
title: Productive consumption, the intertemporal consumption trade-off and growth.
zbMATH Open document ID: 1056.91519
DOI: 10.1016/S0165-1889(01)00009-4
author: Thomas Steger
publication date: 2002-03-03T00:00:00Z
review text: Productive consumption enables the satisfaction of current needs and simultaneously increases the productive potential of labor. From the perspective of growth theory, the productive-consumption hypothesis is of fundamental interest because it modifies the harsh intertemporal consumption trade-off traditionally assumed. Two basic possibilities for modeling the productive-consumption hypothesis are distinguished: First, productive consumption is considered as enhancing the stock of human capital. Second, productive consumption is interpreted as increasing the efficiency of labor. Both possibilities are analyzed within the frame of simple endogenous growth models.
Mathematics Subject Classification ID: 91B40
Mathematics Subject Classification ID: 91B42
Mathematics Subject Classification ID: 91B62
zbMATH DE Number: 1715251
zbMATH Keywords: productive consumption
zbMATH Keywords: labor
zbMATH Keywords: human capital
zbMATH Keywords: endogenous growth models
MaRDI profile type: Publication
full work available at URL: s0165-1889(01)00009-4
OpenAlex ID: W2084729773
published in: Journal of Economic Dynamics and Control
description: scientific article; zbMATH DE number 1715251