Dynamic implications of the wealth-leisure nexus

buir.advisorSağlam, Hüseyin Çağrı
dc.contributor.authorSkenderaj, Arlindo
dc.date.accessioned2022-08-12T13:24:24Z
dc.date.available2022-08-12T13:24:24Z
dc.date.copyright2022-06
dc.date.issued2022-06
dc.date.submitted2022-07-25
dc.departmentDepartment of Economicsen_US
dc.descriptionCataloged from PDF version of article.en_US
dc.descriptionThesis (Master's): Bilkent University, Department of Economics, İhsan Doğramacı Bilkent University, 2022.en_US
dc.descriptionIncludes bibliographical references (leaves 34-36).en_US
dc.description.abstractThis thesis analyses a one-sector optimal growth model in which wealth affects the utility obtained from leisure. We consider that an increase in wealth increases the propensity to consume leisure goods and services and hence affects how the instantaneous utility depends on leisure time. We prove the existence of the optimal path and characterize the dynamics and the properties of equilibria. We provide the conditions under which the model has unique or multiple steady states. The intensity of wealth in the utility obtained from leisure and the output elasticity of physical capital play an important role in the number of steady states and in the monotonicity of the optimal path of physical capital. We find that the optimal path of physical capital is monotonic and converges to the unique steady state, provided that the output elasticity of capital is higher than the intensity of wealth in the utility obtained from leisure.en_US
dc.description.degreeM.A.en_US
dc.description.statementofresponsibilityby Arlindo Skenderajen_US
dc.format.extentvii, 43 leaves : illustrations ; 30 cm.en_US
dc.identifier.itemidB161099
dc.identifier.urihttp://hdl.handle.net/11693/110431
dc.language.isoEnglishen_US
dc.publisherBilkent Universityen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectBifurcationen_US
dc.subjectLeisureen_US
dc.subjectOptimal growthen_US
dc.subjectSteady stateen_US
dc.subjectWealthen_US
dc.titleDynamic implications of the wealth-leisure nexusen_US
dc.title.alternativeZenginlik-boş zaman bağıntısının dinamik sonuçlarıen_US
dc.typeThesisen_US
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