کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5055689 1371497 2009 4 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
A solution to the Lucas-Uzawa model with increasing returns to scale: Note
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
A solution to the Lucas-Uzawa model with increasing returns to scale: Note
چکیده انگلیسی

Chilarescu [2008, An analytical solutions for a model of endogenous growth, Economic Modelling.] claims that he determines a solution path to the Lucas-Uzawa model with increasing returns to scale. However, the path is not a closed-form since it depends on the initial consumption and the initial time for goods production, that are unknown. Moreover, the production function is nonconcave and then the first order conditions and the transversality conditions are not sufficient for the optimality. This note converts the model to a problem in which the Hamiltonian is available and derives a fully-closed form solution.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economic Modelling - Volume 26, Issue 5, September 2009, Pages 831-834
نویسندگان
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