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Article dans une revue Journal of Difference Equations and Applications Année : 2004

Equilibrium and Competitive Equilibrium in a Discrete-Time Lucas Model

Résumé

In this paper, we study a discrete-time version of the Lucas model with externality but without physical capital. We give conditions for which the optimal human capital sequences are increasing. When the instantaneous utility function is isoelastic and the production function is Cobb-Douglas, we prove that the optimal human capital sequences grow at constant rate. Moreover, there exists a unique equilibrium which, under an additional assumption on the human capital technology, is also the unique competitive equilibrium.
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Dates et versions

halshs-00119011, version 1 (08-12-2006)

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Pascal Gourdel, Liem Hoang Ngoc, Cuong Le Van, Tédié Mazamba. Equilibrium and Competitive Equilibrium in a Discrete-Time Lucas Model. Journal of Difference Equations and Applications, 2004, 10 (5), pp.501-514. ⟨10.1080/1023619042000193658⟩. ⟨halshs-00119011⟩
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