@conference {63986,
	title = {Rent Appropriation and Sustained Growth},
	year = {1996},
	month = {Jan 1, 1996},
	abstract = {This paper demonstrates that the introduction of imperfect competition into the labor market can solve the problem isolated by Jones and Manuelli (Journal of Economic Theory, 1992, 58, 171{\textendash}197), and Boldrin (Journal of Economic Theory, 1992, 58, 198{\textendash}218), that in economies with convex technologies and finitely lived agents, real wages may not grow fast enough for unbounded growth to be sustained. I show that if wages are determined by a bargaining solution, and if the bargaining power of the workforce is sufficiently high (if they appropriate a sufficiently large proportion of rents), then growth is unbounded. Moreover, the growth path generated by such an economy may improve the welfare of all generation apart from the initial old.},
	author = {Robinson, James A.}
}
