The Uzawa-Lucas endogenous growth model /

The Uzawa-Lucas endogenous growth model /

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Bibliographic Details
Author / Creator:Mattana, Paolo.
Imprint:aAldershot, Hants, England ; Burlington, VT : Ashgate, c2004.
Description:xxv, 155 p. : ill. ; 24 cm.
Language:English
Subject:
Economic development -- Mathematical models.
Endogenous growth (Economics)
Economic development -- Mathematical models.
Endogenous growth (Economics)
Format: Print Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/5518835
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ISBN:0754636240
Notes:Includes bibliographical references (p. [149]-151) and index.
Table of Contents:
  • List of Figures
  • List of Tables
  • Preface
  • Introduction and Outline of the Book
  • 1. The Model and the Existence of Non-Degenerate Balanced Solutions
  • 1.1. Introduction and Plan of the Chapter
  • 1.2. The Formal Structure of the Model
  • 1.2.1. The Environment and the Technology
  • 1.2.2. Preferences
  • 1.3. The Optimization Problems
  • 1.3.1. The Optimization Problem from the Planner's Viewpoint
  • 1.3.2. The Optimization Problem in the Market Economy
  • 1.3.3. The Properties Shared by Optimal and Equilibrium Paths
  • 1.4. Sufficiency of the Admissible Candidates
  • 1.5. The Possibility for Non-Degenerate Balanced Dynamics
  • 1.5.1. Some Preliminary Properties of the Balanced Evolution of the Economy
  • 2. The General Properties of the Uzawa-Lucas Economy
  • 2.1. Introduction and Plan of the Chapter
  • 2.2. Some General Features of Balanced Growth
  • 2.2.1. Some BGP-Stationary Useful Variables: the Great Ratios
  • 2.2.2. The Adjoint Variables along the BGP
  • 2.3. The Transition along Optimal and Equilibrium Paths
  • 2.3.1. Some Principles for Mathematical Analysis
  • 2.3.2. A Dimensional-Reducing Transformation of the Variables
  • 2.3.3. The Jacobian and the Characteristic Equation
  • 2.3.4. The Potential for non Saddle-Path Behavior in the Dynamics of the Model
  • 2.3.5. The Functions Linking the State of the Economy to its Control Part
  • 2.3.6. The Mechanisms Driving the Adjustment of the Economy
  • 2.3.7. Growth Cases
  • 2.4. The Possibility of a Further Dimensional Reduction
  • 2.5. Appendix
  • 3. The Centralized Economy
  • 3.1. Introduction and Plan of the Chapter
  • 3.2. Optimal BGP Evolution of the Variables
  • 3.2.1. The Relevant System of Differential Equations
  • 3.2.2. The Optimal Allocation of Time along the BGP
  • 3.2.3. The BGP Growth Rate of the Centralized Economy
  • 3.2.4. The BGP Values of the Great Ratios
  • 3.2.5. The Adjoint Variables Along the BGP
  • 3.3. Transitional Dynamics. The Local Point of View
  • 3.3.1. A First Stationarizing Transformation of the Variables
  • 3.3.2. The Local Stability Properties
  • 3.3.3. Some Local Characteristics of the Transition
  • 3.4. Transitional Dynamics. The Global Point of View
  • 3.4.1. The Dynamics in R[superscript 2]
  • 3.4.2. The Logistic Path of the Average Goods Production
  • 3.4.3. The Global Behavior of the Average Consumption
  • 3.4.4. Time Paths in the Original Dimension
  • 3.4.5. The Explicit Transition Simulated
  • 3.5. Global Welfare Analysis
  • 3.6. Appendix
  • 4. The Properties of the Competitive Equilibrium
  • 4.1. Introduction and Plan of the Chapter
  • 4.2. Equilibrium Dynamics Along the BGP
  • 4.2.1. The Relevant System of Differential Equations
  • 4.2.2. The Equilibrium Allocation of Time along the BGP
  • 4.2.3. The BGP Growth Rates of the Primitive Variables
  • 4.2.4. The Stationary Values of the Great Ratios
  • 4.2.5. The BGP Behavior of the Adjoint Variables
  • 4.3. Transitional Dynamics from the Local Point of View
  • 4.3.1. A Stationarizing Transformation of the Dynamic Laws
  • 4.3.2. The Local Stability Properties of the Fixed Point in R[superscript 3]
  • 4.3.3. A Numerical Investigation of the Characteristics of the Eigenvalues
  • 4.3.4. The Economic Forces Governing Transition in the Market Economy
  • 4.3.5. The Emergence of Deterministic Cycles
  • 4.3.6. The Stability Properties of the Orbits
  • 4.4. Transitional Dynamics from the Glocal Point of View
  • 4.4.1. Restricted Parameter Space and the Laws of Motion
  • 4.4.2. The Solution of the Simplified Differential Equations
  • 4.4.3. Indeterminacy Versus Exogenous Growth
  • 4.4.4. The Market Economy Belonging to the Exogenous Growth Case
  • 4.4.5. A Numerical Analysis of Equilibrium Paths when Indeterminacy is Present
  • 4.4.6. Welfare Considerations in the Exogenous Growth Case
  • 5. The Inefficiency of the Market Economy and the Design of Optimal Fiscal Policies
  • 5.1. Introduction and Plan of the Chapter
  • 5.2. Centralization Versus Decentralization. The Parameter Space
  • 5.3. The Inefficiency and the BGP
  • 5.3.1. The Inefficiency and the BGP Growth Rate of the Economy
  • 5.3.2. The Inefficiency and the Great Ratios
  • 5.3.3. The Inefficiency and the Adjoint Variables
  • 5.4. Comparing Transitional Dynamics from the Local Point of View
  • 5.4.1. The Inefficiency and the Stability Properties in R[superscript 3]
  • 5.4.2. The Speeds of Adjustment
  • 5.4.3. The Slopes of the Functions Linking Controls to States
  • 5.5. Optimal and Equilibrium Off-balanced Paths from the Global Point of View
  • 5.5.1. Optimal and Equilibrium Exogenous Growth
  • 5.5.2. Welfare when the Economy Belongs to the Exogenous Growth Case
  • 5.6. The Desirability of Public Policies
  • 5.6.1. The Optimization Problem in Presence of Interventions
  • 5.6.2. Some General Characteristics of Optimal Fiscal Policy
  • 5.6.3. The Optimal Fiscal Policy Along the BGP
  • 5.6.4. Fiscal Policy in Transition: the Case of a Small Coefficient of Risk Aversion
  • 5.6.5. Fiscal Policy in Transition: the Case of a Large Coefficient of Risk Aversion
  • Bibliography
  • Index
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