The Uzawa-Lucas Model
Transitional Dynamics in the Uzawa-Lucas Model of Endogenous Growth
... Abstract In this paper we solve an N ∈ N players differential game with log- arithmic objective functions. The optimization problem considered here is based on the Uzawa Lucas model of endogenous ...
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Optimal taxation in the Uzawa-Lucas Model with externality in human capital
... the model assumptions under which the balanced growth path is unique and fully ...the Uzawa-Lucas model with externality in human ...a model without externalities and show that by ...
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Equilibrium efficiency in the Uzawa-Lucas model with sector-specific externalities
... the Uzawa-Lucas model (Uzawa, 1965, Lucas, 1988) when there are sector-specific externalities associated with human capital in the goods sector, so government intervention is not ...
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The open-loop solution of the Uzawa-Lucas Model of Endogenous Growth with N agents
... Abstract We solve an N ∈ N player general-sum differential game. The opti- mization problem considered here is based on the Uzawa Lucas model of endogenous growth. Agents have logarithmic preferences ...
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Education, Local Amenity and Spatial Agglomeration in a Small-Open Multi-Regional Economic Growth Model: Extending the Uzawa-Lucas Model to an Interregional Economy
... growth model with endogenous human and physical capital in a perfectly competitive ...the Uzawa-Lucas model to an interregional economy, even though this paper models behavior of households in ...
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Uzawa-Lucas model (complete)
... [3] Notice that there is a positive externality associated with the average stock of human capital H a in final output production.. This positive externality is, however, not ne[r] ...
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The Uzawa Lucas Growth Model with Natural Resources
... 1 Introduction The question of the influence of human capital on the development of the economic system is quite important today. There is considerable attention devoted to this question in economic literature nowadays. ...
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Stability analysis of Uzawa Lucas endogenous growth model
... the Uzawa-Lucas ...the model depicts occurrence of limit point-of-cycles bifurcations and period-doubling bifurcations within the model’s feasible parameter ...decentralized Uzawa-Lucas ...
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Cyclical Features of Uzawa-Lucas Endogenous Growth Model
... of Uzawa-Lucas endogenous growth ...this model characterized by a variety of decomposition ...four model-based decomposition ...both model dynamics and model performance ...
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Optimal education in times of ageing: The dependency ratio in the Uzawa Lucas growth model Anne Edle von Gaessler and Thomas Ziesemer
... discrete‐time Uzawa‐Lucas model with international capital movements, human capital externalities and decreasing returns to labour in ...the model, we find multiple steady states indicated by ...
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A note on global dynamics and imbalance effects in the Lucas-Uzawa model
... the model, and notably in its imbalance ...a model when its state variables start below or above the corresponding long-run equilibrium value (see Barro and Sala-i- Martin, 1995, chapter 5, and Mulligan and ...
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Global dynamics and imbalance effects in the Lucas-Uzawa model: further results
... transformed Lucas- Uzawa model, and linearizing around the corresponding steady state, these authors have noticed that the transition dynamics depend strongly on the value of the capital share in the ...
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Global dynamics and imbalance effects in the Lucas Uzawa model : further results
... transformed Lucas- Uzawa model, and linearizing around the corresponding steady state, these authors have noticed that the transition dynamics depend strongly on the value of the capital share in the ...
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Special functions for the study of economic dynamics : The case of the Lucas-Uzawa model
... 6 Conclusions In this paper, we have shown how the use of special functions can solve one of the main difficulties arising in the study of macroeconomic dynamics, that is the indeterminacy of steady state levels in ...
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Balanced growth despite Uzawa
... The Uzawa Growth Theorem rests on the impossibility of getting an endogenous rate of capital accumulation to line up with an exogenous growth rate of effec- tive labor in the presence of capital-augmenting ...
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The Lucas Asset Pricing Model
... It may surprise you that the equilibrium price of trees today does not depend on the expected level of fruit output in the future. You might reason that higher expected future fruit production increases the ...
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Uzawa(1961)’s Steady State Theorem in Malthusian Model
... similar Uzawa (1961) steady-state growth theorem in a Malthusian model: If that model possesses steady-state growth, then technical change must be purely land-augmenting and cannot include labor ...
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On the equilibrium in a discrete-time Lucas Model
... Our model is a discrete-time Lucas model too, but in each period, every individ- ual consumes a quantity c t and spends a quantity of leisure l t ...of Lucas [7] or Romer ...
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The steady state growth conditions of neoclassical growth model and Uzawa theorem revisited
... growth model in a Ramsey manner, that is, we solve the inter-temporal optimization for both consumers and ...growth model: neither Harrod nor non-Harrod neutral technical change can guarantee steady-state ...
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Lucas
... Lucas. My best friend, my accomplice, the beholder of my deepest secrets... I've only known him a few years and yet without even being told, he knows everything there is to know about me. He understands my ...
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