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Human Capital and Optimal Policy in a Lucas-type Model

Author

Listed:
  • Pedro Garcia-Castrillo

    (University of Zaragoza)

  • Marcos Sanso

    (University of Zaragoza)

Abstract

We present a design of fiscal policy capable of providing the required incentives in order to make a decentralized economy with externalities move along the optimal transitional path in a Lucas-type human capital model. (Copyright: Elsevier)

Suggested Citation

  • Pedro Garcia-Castrillo & Marcos Sanso, 2000. "Human Capital and Optimal Policy in a Lucas-type Model," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 3(4), pages 757-770, October.
    • Handle: RePEc:red:issued:v:3:y:2000:i:4:p:757-770
    DOI: 10.1006/redy.1999.0087
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    References listed on IDEAS

    as
    1. Stokey, Nancy L & Rebelo, Sergio, 1995. "Growth Effects of Flat-Rate Taxes," Journal of Political Economy, University of Chicago Press, vol. 103(3), pages 519-550, June.
    2. Benhabib Jess & Perli Roberto, 1994. "Uniqueness and Indeterminacy: On the Dynamics of Endogenous Growth," Journal of Economic Theory, Elsevier, vol. 63(1), pages 113-142, June.
    3. Casey B. Mulligan & Xavier Sala-i-Martin, 1993. "Transitional Dynamics in Two-Sector Models of Endogenous Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 108(3), pages 739-773.
    4. Bond, Eric W. & Wang, Ping & Yip, Chong K., 1996. "A General Two-Sector Model of Endogenous Growth with Human and Physical Capital: Balanced Growth and Transitional Dynamics," Journal of Economic Theory, Elsevier, vol. 68(1), pages 149-173, January.
    5. Xie Danyang, 1994. "Divergence in Economic Performance: Transitional Dynamics with Multiple Equilibria," Journal of Economic Theory, Elsevier, vol. 63(1), pages 97-112, June.
    6. Ladron-de-Guevara, Antonio & Ortigueira, Salvador & Santos, Manuel S., 1997. "Equilibrium dynamics in two-sector models of endogenous growth," Journal of Economic Dynamics and Control, Elsevier, vol. 21(1), pages 115-143, January.
    7. Jones, Larry E & Manuelli, Rodolfo E & Rossi, Peter E, 1993. "Optimal Taxation in Models of Endogenous Growth," Journal of Political Economy, University of Chicago Press, vol. 101(3), pages 485-517, June.
    8. 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.
    9. Lucas, Robert E, Jr, 1990. "Supply-Side Economics: An Analytical Review," Oxford Economic Papers, Oxford University Press, vol. 42(2), pages 293-316, April.
    10. Chamley, Christophe, 1993. "Externalities and Dynamics in Models of "Learning or Doing."," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 34(3), pages 583-609, August.
    11. Mino, Kazuo, 1996. "Analysis of a Two-Sector Model of Endogenous Growth with Capital Income Taxation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(1), pages 227-251, February.
    12. 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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    Citations

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    Cited by:

    1. repec:kap:iaecre:v:10:y:2004:i:3:p:202-214 is not listed on IDEAS
    2. Arantza Gorostiaga & Jana Hromcová & Miguel-Ángel López-García, 2013. "Optimal taxation in the Uzawa–Lucas model with externality in human capital," Journal of Economics, Springer, vol. 108(2), pages 111-129, March.
    3. 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.
    4. Gomez Suarez, Manuel A., 2008. "Utility and production externalities, equilibrium efficiency and leisure specification," Journal of Macroeconomics, Elsevier, vol. 30(4), pages 1496-1519, December.
    5. Chakraborty, Bidisha & Gupta, Manash Ranjan, 2009. "Human capital, inequality, endogenous growth and educational subsidy: A theoretical analysis," Research in Economics, Elsevier, vol. 63(2), pages 77-90, June.
    6. Manuel Gómez & Antonio Escalona & J. Seijas, 2004. "Optimal fiscal policy in the Uzawa-Lucas model with CES production," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 10(3), pages 202-214, October.
    7. Gomez, Manuel A., 2005. "Externalities and fiscal policy in a Lucas-type model," Economics Letters, Elsevier, vol. 88(2), pages 251-259, August.
    8. Barañano Mentxaka, Ilaski & San Martín Lizarralde, Marta, 2015. "Optimal Taxation and Indeterminacy in the Uzawa-Lucas Model with Sector-specific Externalities," IKERLANAK Ikerlanak;2015-95, Universidad del País Vasco - Departamento de Fundamentos del Análisis Económico I.
    9. repec:eee:jetheo:v:172:y:2017:i:c:p:451-477 is not listed on IDEAS

    More about this item

    JEL classification:

    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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