The name is absent



h

bt+1 = (1 i °) qK (1 i °t) i i (x i bt)


bt2 (0;h)


' °t ∙ °e;nq


(7)


This equation and the correspondingfunction is parametrized tothe en-
trepreneurs evel Cftechnical ine£ dency sincethatis a pureentrepreneurial
quality.

Finaiy a cμaii...ed entrepreneur's Ciyrasty accumulates wealth according
tCthe fCllCwingequatiCn:

bt 2 (h; x)
0 ∙ °t ∙ ° e


°e;q

(8)


h

bt+1 = (1 i °) qK(1 i°t + h)  ii(x  ibt + h)

A lsCin this case each functiCn is parametrized tCa speci.clevelCftech-
nical in∈¢d∈rcy.

T he eccncmys structural parameters determine diπ erent long- run sce-
narios (see .cures 1 ). Each scenario corresponds to diπ erent Cccupationial
structure ofthe population in each generation.

T he transmission mechanism Oftechnical ine¢dency ...naly a3ects the
evolution ofthe distribution ofincome and wealth and the evolution ofthe
occupationalstructure ofthe population.

11



More intriguing information

1. Consumer Networks and Firm Reputation: A First Experimental Investigation
2. The Mathematical Components of Engineering
3. The name is absent
4. Evaluating the Success of the School Commodity Food Program
5. MICROWORLDS BASED ON LINEAR EQUATION SYSTEMS: A NEW APPROACH TO COMPLEX PROBLEM SOLVING AND EXPERIMENTAL RESULTS
6. The name is absent
7. Are Japanese bureaucrats politically stronger than farmers?: The political economy of Japan's rice set-aside program
8. From Aurora Borealis to Carpathians. Searching the Road to Regional and Rural Development
9. Dendritic Inhibition Enhances Neural Coding Properties
10. The name is absent