Gender Discrimination, Education and Economic Growth in a Generalized Uzawa-Lucas Two-Sector Model

A Discrete Two-Sector Economic Growth Model

Growth driven by human capital accumulation: The Uzawa-Lucas model

Several of the economically interesting aspects of the Uzawa-Lucas model are not really emphasized in the exposition in B & S, Section 5.2.2, which instead focusses on quite technical aspects such as the transitional dynamics of (a simplified version of) the model. Hence, in this lecture note I shall attempt to give an account of the Uzawa-Lucas model which closer to the presentation in Lucas (...

Balanced Growth Revisited: A Two-Sector Model of Economic Growth

The one-sector Solow-Ramsey model is the most popular model of long-run economic growth. This paper argues that a two-sector approach, which distinguishes the durable goods sector from the rest of the economy, provides a far better picture of the long-run behavior of the U.S. economy. Real durable goods output has consistently grown faster than the rest of the economy. Because most investment s...

Estimating the Uzawa-Lucas Model for the U.S. and Germany

Numerous cross-sectional tests have been performed to evaluate the predictions of recent growth theories such as the Uzawa-Lucas growth model. In a series of papers and in his book, Jones (1995a, 1995b, 1997) has shifted the attention toward the time series predictions of endogenous growth models. By contrasting endogenous growth models with facts, one is frequently confronted with the predicti...

The open-loop solution of the Uzawa-Lucas Model of Endogenous Growth with N agents

We solve an N ∈ N player general-sum differential game. The optimization problem considered here is based on the Uzawa Lucas model of endogenous growth. Agents have logarithmic preferences and own two capital stocks. Since the number of players is an arbitrary fixed number N ∈ N, the model’s solution is more general than the idealized concepts of the social planer’s solution with one player or ...