Japanese at work

Nishimoto I. (2006) "Jikan Isiki no Kindai (The modern view of time consciousness)," Tokyo: Hosei University Press (in Japanese).

"Economic Development with Education and Industriousness "

This study theoretically investigates the relationship among long-run growth, education, and "industriousness" captured by weight parameter on leisure, using the Ladr'on-de-Guevara et al. (1999) model, the Uzawa-Lucas model with labor and leisure choice.
This approach can imply that economic development is caused by a structural change in the propensity of labor-leisure choice, and can enable an analysis of the properties of economic dynamics after economic development begins. We obtain multiple steady states when the efficiency of education and the weight of utility from consumption compared to that of leisure are adequately high: one corresponding to a high interest rate with saddle stability, and the other corresponding to low interest rates with local indeterminacy under specific conditions.

Keywords: Industriousness; Economic Development; Uzawa-Lucas model; Labor-leisure Choice.