IDEAS home Printed from https://ideas.repec.org/p/ift/wpaper/2259.html
   My bibliography  Save this paper

Technological Change and Demographics in a model where consumption is time-constrained

Author

Listed:
  • Manoj Pant

    (Indian Institute of Foreign Trade,New Delhi,India)

  • Sugandha Huria

    (Indian Institute of Foreign Trade,New Delhi,India)

Abstract

This study demonstrates why traditional ‘cost-saving’ technical progress fails in an economy where consumption is time-constrained. In such a case, introducing ‘time- saving’ technical progress establishes a new consumption-production equilibrium characterized by higher per-capita consumption and real income, lower prices, and, a higher scale of production for surviving producers. Nonetheless, since there is a limit to how much time can be saved by technological advances, the model also suggests an alternative solution in the form of a rising labor force (via immigration) to close the production-consumption gap. This solution echoes the empirical reality illustrating why Emerging Market Economies matter.

Suggested Citation

  • Manoj Pant & Sugandha Huria, 2022. "Technological Change and Demographics in a model where consumption is time-constrained," Working Papers 2259, Indian Institute of Foreign Trade.
    • Handle: RePEc:ift:wpaper:2259
    as

    Download full text from publisher

    File URL: ftp://203.190.248.10/RePEc/ift/workingpapers/EC-22-59.pdf
    File Function: First version, 2022
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Dey, Oindrila & Chakravarty, Debalina, 2020. "Electric Street Car as a Clean Public Transport Alternative: A Choice Experiment Approach," MPRA Paper 101000, University Library of Munich, Germany, revised Apr 2020.
    2. Kashika Arora & Areej A. Siddiqui & Biswajit Nag, 2020. "Devevloping Linkages Between Export Guarantees And Technical Efficiency Of Indian Firms," Working Papers 2045, Indian Institute of Foreign Trade.
    3. Manoj pant & Sugandha Huria, 2019. "Quantification of Services Trade Restrictions - A new Approach," Working Papers 1940, Indian Institute of Foreign Trade.
    4. Sunitha Raju & V.Raveendra Saradhi, 2019. "Imports from China:Threat or Opportunity Analysis of Indian Manufacturing Sector," Working Papers 1938, Indian Institute of Foreign Trade.
    5. Sheeba Kapil & Rakesh K Mishra, 2019. "Corporate Governance structure and firm performance in Indian context: A Structural Equation Modelling Approach," Working Papers 1937, Indian Institute of Foreign Trade.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Nivedita Mullick & Areej A. Siddiqui, 2021. "Economic Integration Agreements and Extensive Margin of Export: An Empirical Study of India," Working Papers 2155, Indian Institute of Foreign Trade.
    2. Vijay Prakash Ojha & Ashish Kumar & Shalu Vashisht, 2024. "Role of Short-Term Export Credit Insurance to Exporters and Banks by ECGC in facilitating Exports from India," Working Papers 2468, Indian Institute of Foreign Trade.
    3. Vijay Prakash Ojha & Areej Aftab Siddiqui & Biswajit Nag & Kashika Arora, 2024. "Role of ECGC in Export Performance of Firms in the MSME Sector of India," Working Papers 2467, Indian Institute of Foreign Trade.
    4. Vijay Prakash Ojha & Shalu Vashisht, 2024. "ECGC Policy Adoption in WomenOriented MSMEs: Problems and Prospects," Working Papers 2265, Indian Institute of Foreign Trade.

    More about this item

    Keywords

    Cost-saving technical progress; Time-saving technical progress; Consumption-time; General Equilibrium model; Demographics; Immigration;
    All these keywords.

    JEL classification:

    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ift:wpaper:2259. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: S. Balasubramanian (email available below). General contact details of provider: https://edirc.repec.org/data/iifttin.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.