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A Variant of Uzawa's Theorem

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  • Schlicht, Ekkehart

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

  • Schlicht, Ekkehart, 2006. "A Variant of Uzawa's Theorem," Discussion Papers in Economics 897, University of Munich, Department of Economics.
  • Handle: RePEc:lmu:muenec:897
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    File URL: https://epub.ub.uni-muenchen.de/897/1/schlicht_uzawas_theorem.pdf
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    References listed on IDEAS

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

    Citations

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    Cited by:

    1. 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.
    2. 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.
    3. 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.
    4. Irmen, Andreas, 2018. "A Generalized Steady-State Growth Theorem," Macroeconomic Dynamics, Cambridge University Press, vol. 22(04), pages 779-804, June.
    5. Trew, Alex, 2014. "Finance And Balanced Growth," Macroeconomic Dynamics, Cambridge University Press, vol. 18(04), pages 883-898, June.
    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. 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.
    8. repec:eee:macchp:v2-3 is not listed on IDEAS
    9. 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.
    10. Jones, C.I., 2016. "The Facts of Economic Growth," Handbook of Macroeconomics, Elsevier.
    11. Dongya Koh & Raül Santaeulàlia-Llopis, 2017. "Countercyclical Elasticity of Substitution," Working Papers 946, Barcelona Graduate School of Economics.

    More about this item

    Keywords

    Harrod neutral; bias; technological progress;

    JEL classification:

    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical

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