Special functions for the study of economic dynamics: The case of the Lucas-Uzawa model

Raouf Boucekkine () and José Ruiz-Tamarit

No 2004026, LIDAM Discussion Papers IRES from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: The special functions are intensively used in mathematical physics to solve differential systems. We argue that their use should be most useful in economic dynamics, notably in the assessment of the transtion dynamics of endogenous growth models. We illustrate our argument on the Lucas-Uzawa model, which we solve by the means of Gaussian hypergeometric functions. We show how the use of Gaussian hypergeometric functions allows for an explicit representation of the equilibrium dynamics of the variables in level. In contrast to the preexisting approaches, our method is global and does not rely on dimension reduction

Keywords: Special functions; hypergeometric functions; optimal control; Lucas-Uzawa model; economic dynamics (search for similar items in EconPapers)
JEL-codes: C61 C62 O41 (search for similar items in EconPapers)
Date: 2004-10-01
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Citations: View citations in EconPapers (7)

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Related works:
Working Paper: Special functions for the study of economic dynamics: The case of the Lucas-Uzawa model (2009)
Journal Article: Special functions for the study of economic dynamics: The case of the Lucas-Uzawa model (2008)
Working Paper: Special functions for the study of economic dynamics: The case of the Lucas-Uzawa model (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvir:2004026

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