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  • 标题:INCOME AND WEALTH DISTRIBUTION WITH PHYSICAL AND HUMAN CAPITAL ACCUMULATION: EXTENDING THE UZAWA-LUCAS MODEL TO A HETEROGENEOUS HOUSEHOLDS ECONOMY
  • 本地全文:下载
  • 作者:ZHANG, WEI-BIN
  • 期刊名称:Latin american journal of economics
  • 印刷版ISSN:0719-0425
  • 电子版ISSN:0719-0433
  • 出版年度:2013
  • 卷号:50
  • 期号:2
  • 页码:257-287
  • 语种:English
  • 出版社:Pontificia Universidad Católica de Chile. Instituto de Economía.
  • 摘要:

    This paper proposes a dynamic economic model with wealth accumulation and human capital accumulation with endogenous education. In addition to learning by education like in the Uzawa-Lucas model, we also consider Arrow's learning by producing and Zhang's learning by consuming (creative learning) in the human capital accumulation equation. We simulate the model to demonstrate the existence of equilibrium points and motion of the dynamic system. We also examine how effects of changes in the propensity to receive education, the population, the propensity to save, and the education sector's total productivity will alter the paths of the economic dynamics.

  • 其他关键词:learning by producing;learning by consuming;learning by education;wealth and income distribution;heterogeneous households
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