Stochastic technology shocks in an extended Uzawa–Lucas model: closed-form solution and long-run dynamics
Stochastic technology shocks in an extended Uzawa–Lucas model: closed-form solution and long-run dynamics
复制标题
扩展 Uzawa-Lucas 模型中的随机技术冲击：封闭式解和长期动态
DOI：
10.1007/s00712-011-0193-0
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发表时间：
2011
影响因子：
1.7
通讯作者：
D. La Torre
中科院分区：
文献类型：
--
作者：
A. Bucci;C. Colapinto;M. Forster;D. La Torre
我们将随机技术进步，建模为具有漂移的几何布朗运动，添加到增强的Uzawa-Lucas增长模型中。在特定的参数组合下，我们推导出模型和解析表达式的封闭形式解，表明不确定性降低了最优消费水平，并增加了用于生产新人力资本的人力资本比例。
We add stochastic technological progress, modelled as a geometric Brownian motion with drift, to an augmented Uzawa–Lucas growth model. Under a particular combination of parameters we derive a closed form solution to the model and analytical expressions which show that uncertainty reduces the optimal levels of consumption and increases the proportion of human capital devoted to producing new human capital.