A generalized Keynes-Wicksell model with variable labor force growth

The comparative steady state properties of the generalized Keynes-Wicksell model with variable labor force growth is analyzed. The labor force is the product of a constant growth population and a variable labor force participation rate. The participation rate is a positive function of real wages and a negative function of real wealth. The effects of rises in the rate of monetary expansion and in the level of households' planned saving on the steady state equilibrium are explored and compared to the effects found in standard neoclassical and Keynes-Wicksell growth models.