The Uzawa Lucas Model In Discrete Time With General Population Growth Rate
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The Uzawa-Lucas Model in Discrete Time with General Population Growth Rate
Author | : Emiliano Alvarez |
Publisher | : |
Total Pages | : 14 |
Release | : 2018 |
Genre | : |
ISBN | : |
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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.
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