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A Variant of Uzawa's Theorem

Author

Listed:
  • Ekkehart Schlicht

    () (Department of Economics, University of Munich)

Abstract

Uzawa (1961) has shown that balanced growth requires technological progress to be strictly Harrod neutral (purely labor-augmenting). This paper offers a slightly more general variant of the theorem that does not require assumptions about savings behavior or factor pricing and is much easier to prove.

Suggested Citation

  • Ekkehart Schlicht, 2006. "A Variant of Uzawa's Theorem," Economics Bulletin, AccessEcon, vol. 5(6), pages 1-5.
  • Handle: RePEc:ebl:ecbull:eb-06e10001
    as

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    File URL: http://www.accessecon.com/pubs/EB/2006/Volume5/EB-06E10001A.pdf
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    References listed on IDEAS

    as
    1. Olivier Jean Blanchard & Stanley Fischer, 1989. "Lectures on Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262022834, January.
    2. Robert J. Barro, 2013. "Inflation and Economic Growth," Annals of Economics and Finance, Society for AEF, vol. 14(1), pages 121-144, May.
    3. H. Uzawa, 1961. "Neutral Inventions and the Stability of Growth Equilibrium," Review of Economic Studies, Oxford University Press, vol. 28(2), pages 117-124.
    4. Daron Acemoglu, 2003. "Labor- And Capital-Augmenting Technical Change," Journal of the European Economic Association, MIT Press, vol. 1(1), pages 1-37, March.
    5. C. C. von Weizsäcker, 1966. "Tentative Notes on a Two Sector Model with Induced Technical Progress," Review of Economic Studies, Oxford University Press, vol. 33(3), pages 245-251.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Gene M. Grossman & Elhanan Helpman & Ezra Oberfield & Thomas Sampson, 2017. "Balanced Growth Despite Uzawa," American Economic Review, American Economic Association, vol. 107(4), pages 1293-1312, April.
    2. Trew, Alex, 2014. "Finance And Balanced Growth," Macroeconomic Dynamics, Cambridge University Press, vol. 18(04), pages 883-898, June.
    3. repec:bla:jecsur:v:31:y:2017:i:5:p:1272-1303 is not listed on IDEAS
    4. Dongya Koh & Raül Santaeulàlia-Llopis, 2017. "Countercyclical Elasticity of Substitution," Working Papers 946, Barcelona Graduate School of Economics.
    5. Ekkehart Schlicht, 2016. "Directed Technical Change and Capital Deepening: A Reconsideration of Kaldor's Technical Progress Function," Metroeconomica, Wiley Blackwell, vol. 67(1), pages 119-151, February.
    6. Vladimir D. Matveenko & Alexei V. Korolev, 2011. "What Is Common In Different Economic Growth Models?," DEGIT Conference Papers c016_075, DEGIT, Dynamics, Economic Growth, and International Trade.
    7. Andreas Irmen, 2013. "A Generalized Steady-State Growth Theorem," CREA Discussion Paper Series 13-26, Center for Research in Economic Analysis, University of Luxembourg.
    8. Irmen, Andreas, 2011. "Steady-state growth and the elasticity of substitution," Journal of Economic Dynamics and Control, Elsevier, vol. 35(8), pages 1215-1228, August.
    9. repec:eee:macchp:v2-3 is not listed on IDEAS
    10. Growiec, Jakub, 2010. "Knife-edge conditions in the modeling of long-run growth regularities," Journal of Macroeconomics, Elsevier, vol. 32(4), pages 1143-1154, December.
    11. Roberto Veneziani & Luca Zamparelli & Daniele Tavani & Luca Zamparelli, 2017. "Endogenous Technical Change In Alternative Theories Of Growth And Distribution," Journal of Economic Surveys, Wiley Blackwell, vol. 31(5), pages 1272-1303, December.
    12. Jones, C.I., 2016. "The Facts of Economic Growth," Handbook of Macroeconomics, Elsevier.

    More about this item

    Keywords

    Harrod bias technological progress;

    JEL classification:

    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models

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