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

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.

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Year of publication:	2006-07
Authors:	Boldea, Marius Valentin
Institutions:	Maison des Sciences Économiques, Université Paris 1 (Panthéon-Sorbonne)
Subject:	Lucas Model \| human capital \| externalities \| optimal growth \| equilibrium

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Extent:	application/pdf
Series:	Cahiers de la Maison des Sciences Economiques. - ISSN 1624-0340.
Type of publication:	Book / Working Paper
Notes:	22 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005670968