Macroeconomic models assume technological change is labor-augmenting to achieve balanced growth
the verdict
SUPPORTED
the evidence backs this
confidence 84/100
Macroeconomic growth models frequently assume that technological change is labor-augmenting in order to maintain a stable balanced growth path and consistent factor income shares.
Evidence for · 3
Endogenous capital- and labor-augmenting technical change in the neoclassical growth model
2015 · cited by 26
Paper [0] confirms that macroeconomic growth models commonly extend neoclassical frameworks to examine endogenous capital- and labor-augmenting technical change.
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More for · 2
A GENERALIZED STEADY-STATE GROWTH THEOREM
2016 · cited by 11
Paper [1] acknowledges that technical change is standardly modeled as purely labor-augmenting in dynamic macroeconomics to achieve steady-state balanced growth, while discussing its mathematical foundations.
Labor- and Capital-Augmenting Technical Change
2003 · cited by 1
Paper [4] notes that long-run macroeconomic growth models assume labor-augmenting technical change to maintain a constant labor share in GDP.