On the equilibrium in a discrete-time Lucas Model with endogenous leisure

Marius Boldea

Cahiers de la Maison des Sciences Economiques from Université Panthéon-Sorbonne (Paris 1)

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: Lucas Model; human capital; externalities; optimal growth; equilibrium (search for similar items in EconPapers)
Pages: 22 pages
Date: 2006-07
New Economics Papers: this item is included in nep-dge and nep-upt
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Persistent link: https://EconPapers.repec.org/RePEc:mse:wpsorb:b06054

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