Equilibrium and Competitive Equilibrium in a Discrete-Time Lucas Model

DOI10.1080/1023619042000193658MaRDI QIDQ4818296zbMATH OpenOpenAlexFDO

Authors Pascal Gourdel, Liem Hoang Ngoc, Cuong Le Van, Tédié Mazamba

Publication date 28 September 2004

Published in Journal of Difference Equations and Applications (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1080/1023619042000193658

zbMATH Keywords

ExternalitiesOptimal GrowthHuman CapitalSocial Planner

Mathematics Subject Classification ID

Dynamical systems in optimization and economics (37N40) General equilibrium theory (91B50) Economic growth models (91B62)

Recommendations

• Existence of a competitive equilibrium in the Lucas (1988) model without physical capital
• Optimality of the competitive equilibrium in the Uzawa-Lucas model with sector-specific exter\-nalities
• Existence, optimality and dynamics of equilibria with endogenous time preference
• Existence and uniqueness of equilibrium in distorted dynamic economies with capital and labor
• The discrete time version of the Romer model

Cites work

• Divergence in economic performance: Transitional dynamics with multiple equilibria
• Dynamic programming with homogeneous functions
• On the Differentiability of the Value Function in Dynamic Models of Economics
• Optimal growth models with bounded or unbounded returns: A unifying approach
• The discrete time version of the Romer model

Cited in

(5)

• Balanced growth and degrowth with human capital
• Existence of a competitive equilibrium in the Lucas (1988) model without physical capital
• Existence and properties of the optimal human capital and consumption evolution in the framework of Lucas model on finite horizon, when the number of workers is not normalizeds
• Optimality of the competitive equilibrium in the Uzawa-Lucas model with sector-specific exter\-nalities
• REVISITING THE OPTIMAL STATIONARY PUBLIC INVESTMENT POLICY IN ENDOGENOUS GROWTH ECONOMIES

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