| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11063 |
| DP11063 Balanced Growth Despite Uzawa | |
| Elhanan Helpman; Gene Grossman; Thomas Sampson; Ezra Oberfield | |
| 发表日期 | 2016-01-24 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | Evidence for the United States suggests balanced growth despite falling investment-good prices and less than unitary elasticity of substitution between capital and labor. This is inconsistent with the Uzawa Growth Theorem. We extend Uzawa's theorem to show that introducing human capital accumulation in the standard way does not resolve the puzzle. However, balanced growth is possible if education is endogenous and capital is more complementary with schooling than with raw labor. We describe balanced growth paths for several neoclassical growth models with capital-augmenting technological progress and endogenous schooling. The balanced growth path in an overlapping-generations model in which individuals choose their time in school matches key features of the U.S. record. |
| 主题 | International Trade and Regional Economics ; Macroeconomics and Growth |
| 关键词 | Balanced growth Capital-skill complementarity Neoclassical growth Technological progress |
| URL | https://cepr.org/publications/dp11063 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539892 |
| 推荐引用方式 GB/T 7714 | Elhanan Helpman,Gene Grossman,Thomas Sampson,et al. DP11063 Balanced Growth Despite Uzawa. 2016. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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