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Equilibrium efficiency in the Uzawa-Lucas model with sector-specific externalities

Author

Listed:
  • Manuel A. Gómez

    (Departament of Applied Economics, University of A Coruña)

Abstract

This note shows that the competitive equilibrium is efficient in the Uzawa-Lucas endogenous growth model with sector-specific externalities associated to human capital in the goods sector for a large class of goods production technologies.

Suggested Citation

  • Manuel A. Gómez, 2006. "Equilibrium efficiency in the Uzawa-Lucas model with sector-specific externalities," Economics Bulletin, AccessEcon, vol. 8(3), pages 1-8.
    • Handle: RePEc:ebl:ecbull:eb-06h20003
    as

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    References listed on IDEAS

    as
    1. Duffy, John & Papageorgiou, Chris, 2000. "A Cross-Country Empirical Investigation of the Aggregate Production Function Specification," Journal of Economic Growth, Springer, vol. 5(1), pages 87-120, March.
    2. Caballe, Jordi & Santos, Manuel S, 1993. "On Endogenous Growth with Physical and Human Capital," Journal of Political Economy, University of Chicago Press, vol. 101(6), pages 1042-1067, December.
    3. Lucas, Robert E, Jr, 1990. "Supply-Side Economics: An Analytical Review," Oxford Economic Papers, Oxford University Press, vol. 42(2), pages 293-316, April.
    4. Manuel Gómez, 2004. "Optimality of the competitive equilibrium in the Uzawa-Lucas model with sector-specific externalities," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 23(4), pages 941-948, May.
    5. Winford H. Masanjala & Chris Papageorgiou, 2004. "The Solow model with CES technology: nonlinearities and parameter heterogeneity," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 19(2), pages 171-201.
    6. Larry E. Jones & Rodolfo Manuelli, 1990. "A Convex Model of Equilibrium Growth," NBER Working Papers 3241, National Bureau of Economic Research, Inc.
    7. Jones, Larry E & Manuelli, Rodolfo E, 1990. "A Convex Model of Equilibrium Growth: Theory and Policy Implications," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 1008-1038, October.
    8. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    Cited by:

    1. Neustroev, Dmitry, 2013. "The Uzawa-Lucas Growth Model with Natural Resources," MPRA Paper 52937, University Library of Munich, Germany.
    2. Orlando Gomes, 2008. "Decentralized Allocation of Human Capital and Nonlinear Growth," Computational Economics, Springer;Society for Computational Economics, vol. 31(1), pages 45-75, February.

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    More about this item

    JEL classification:

    • H2 - Public Economics - - Taxation, Subsidies, and Revenue
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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