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Global dynamics and imbalance effects in the Lucas-Uzawa model: further results

Author

Listed:
  • BOUCEKKINE, Raouf

    (Université catholique de Louvain (UCL). Center for Operations Research and Econometrics (CORE))

  • MARTINEZ, Blanca
  • RUIZ-TAMARIT, Jose R.

Abstract

In this paper we use a new analytical approach to the Lucas-Uzawa model (Boucekkine and Ruiz Tamarit, 2007) to extend the existing results on the dynamics, and notably on the imbalance effects arising in the model. The approach does not only allow to extend the traditional analysis to any initial conditions and for all variables in level, but it also permits a more general investigation of imbalance effects.

Suggested Citation

  • BOUCEKKINE, Raouf & MARTINEZ, Blanca & RUIZ-TAMARIT, Jose R., 2007. "Global dynamics and imbalance effects in the Lucas-Uzawa model: further results," LIDAM Discussion Papers CORE 2007025, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvco:2007025
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    References listed on IDEAS

    as
    1. 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.
    2. Boucekkine, R. & Ruiz-Tamarit, J.R., 2008. "Special functions for the study of economic dynamics: The case of the Lucas-Uzawa model," Journal of Mathematical Economics, Elsevier, vol. 44(1), pages 33-54, January.
    3. Casey B. Mulligan & Xavier Sala-i-Martin, 1993. "Transitional Dynamics in Two-Sector Models of Endogenous Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(3), pages 739-773.
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    Cited by:

    1. Hassan Benchekroun & Cees Withagen, 2008. "Global Dynamics In A Growth Model With An Exhaustible Resource," Departmental Working Papers 2008-01, McGill University, Department of Economics.
    2. Roy Cerqueti & Raffaella Coppier & Gustavo Piga, 2012. "Corruption, growth and ethnic fractionalization: a theoretical model," Journal of Economics, Springer, vol. 106(2), pages 153-181, June.
    3. Benchekroun, Hassan & Withagen, Cees, 2011. "The optimal depletion of exhaustible resources: A complete characterization," Resource and Energy Economics, Elsevier, vol. 33(3), pages 612-636, September.

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    More about this item

    Keywords

    Lucas-Uzawa; hypergeometric functions; imbalance effects; global dynamics;
    All these keywords.

    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General

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