| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21861 |
| 来源ID | Working Paper 21861 |
| Balanced Growth Despite Uzawa | |
| Gene M. Grossman; Elhanan Helpman; Ezra Oberfield; Thomas Sampson | |
| 发表日期 | 2016-01-11 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | The evidence for the United States points to balanced growth despite falling investment-good prices and an elasticity of substitution between capital and labor less than one. This is inconsistent with the Uzawa Growth Theorem. We extend Uzawa's theorem to show that the introduction of human capital accumulation in the standard way does not resolve the puzzle. However, balanced growth is possible if schooling is endogenous and capital is more complementary with schooling than with raw labor. We describe balanced growth paths for a variety of neoclassical growth models with capital-augmenting technological progress and endogenous schooling. The balanced growth path in an overlapping-generations model in which individuals choose the duration of their education matches key features of the U.S. economic record. |
| 主题 | Macroeconomics ; Consumption and Investment ; Labor Economics ; Labor Supply and Demand ; Development and Growth ; Growth and Productivity |
| URL | https://www.nber.org/papers/w21861 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579535 |
| 推荐引用方式 GB/T 7714 | Gene M. Grossman,Elhanan Helpman,Ezra Oberfield,et al. Balanced Growth Despite Uzawa. 2016. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w21861.pdf（434KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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