The Uzawa-Lucas Model in Discrete Time with General Population Growth Rate

14 Pages Posted: 3 Jan 2018

See all articles by Emiliano Alvarez

Emiliano Alvarez

Universidad de la República

Juan Gabriel Brida

Universidad de la República

Gaston Cayssials

Universidad de la Republica - Facultad de Ciencias Económicas y de Administración

Pilar Lorenzo

Universidad Técnica Federico Santa María

Mijail Yapor

Universidad de la Republica

Date Written: December 26, 2017

Abstract

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.

Keywords: Uzawa-Lucas Model, Economic Dynamics, Human Capital, Economic Growth, Discrete Time

JEL Classification: C62, O41

Suggested Citation

Alvarez, Emiliano and Brida, Juan Gabriel and Cayssials, Gaston and Lorenzo, Pilar and Yapor, Mijail, The Uzawa-Lucas Model in Discrete Time with General Population Growth Rate (December 26, 2017). Available at SSRN: https://ssrn.com/abstract=3093442 or http://dx.doi.org/10.2139/ssrn.3093442

Emiliano Alvarez (Contact Author)

Universidad de la República ( email )

Eduardo Acevedo 1189
Montevideo, 11100
Uruguay

Juan Gabriel Brida

Universidad de la República ( email )

Av. 18 de Julio
Montevideo, 1968
Uruguay

Gaston Cayssials

Universidad de la Republica - Facultad de Ciencias Económicas y de Administración ( email )

Gonzalo Ramirez 1926
Montevideo, 11200
Uruguay

Pilar Lorenzo

Universidad Técnica Federico Santa María ( email )

Avenue Spain 1680
Valparaiso Square 110
Chile

Mijail Yapor

Universidad de la Republica ( email )

Gonzalo Ramirez 1926
Montevideo, 11200
Uruguay

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
108
Abstract Views
743
rank
303,203
PlumX Metrics