The Uzawa-Lucas Model in Discrete Time with General Population Growth Rate
Author | : Emiliano Alvarez |
Publisher | : |
Total Pages | : 14 |
Release | : 2018 |
ISBN-10 | : OCLC:1304434220 |
ISBN-13 | : |
Rating | : 4/5 ( Downloads) |
Download or read book The Uzawa-Lucas Model in Discrete Time with General Population Growth Rate written by Emiliano Alvarez and published by . This book was released on 2018 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reformulates the classical Uzawa-Lucas model of economic growth and human capital accumulation by representing time as a discrete variable and using a non-constant population growth rate. In addition, the model is developed with a more general utility function. The study examines the optimal trajectories in human and physical capital and consumption showing the existence of a unique steady state which stability is analyzed. The paper compares the results with the original studies in discrete time.