On the equilibrium in a discrete-time Lucas Model

Marius Boldea ()
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Marius Boldea: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique

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Abstract: In this paper I study a discrete-time version of the Lucas model with the endogenous leisure but without physical capital. Under standard conditions I prove that the optimal human capital sequence is increasing. If the instantaneous utility function and the production function are Cobb-Douglas, I prove that the human capital sequence grow at a constant rate. I finish by studying the existence and the unicity of the equilibrium in the sense of Lucas or Romer.

Keywords: equilibrium; optimal growth; externalities; human capital; Lucas Model; Modèle de Lucas; capital humain; externalité; croissance optimale; équilibre (search for similar items in EconPapers)
Date: 2006-07
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00118829
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Published in 2006

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00118829

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