The Uzawa-Lucas Endogenous Growth Model

by Paolo Mattana

Overview

Using state of the art mathematical techniques this book provides a complete characterization of the Uzawa-Lucas growth model. In his path-breaking contribution on the 'Mechanics of Economic Growth' Lucas suggested that human capital is the key variable through which technical change is most likely to occur and (by taking some initial intuitions of Uzawa a step further) proposed a two-sector capital accumulation growth model where human capital is allowed to enter a neo-classical-style production structure in multiplicative terms. In this book Paolo Mattana fully explores the dynamic possibilities of the model from both the market and the centralized perspective. A critical evaluation of the inefficiency in the market economy is also provided.

Product Details

ISBN-13:	9780815398356
Publisher:	Taylor & Francis
Publication date:	12/15/2017
Pages:	181
Product dimensions:	5.75(w) x 9.25(h) x (d)

About the Author

Paolo Mattana, The University of Cagliari, Italy

Table of Contents

Contents: The model and the existence of non-degenerate balanced solutions; The general properties of the Uzawa-Lucas economy; The centralized economy; The properties of the competitive equilibrium; The inefficiency of the market economy and the design of optimal fiscal policies; Bibliography; Index.