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Closed-form Solutions for the Lucas-Uzawa model: Unique or Multiple

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  • Rehana Naz

Abstract

Naz and Chaudhry [3] established multiple closed-form solutions for the basic Lucas-Uzawa model. According to Boucekkine and Ruiz-Tamarit [1] and Chilarescu [2] unique closed-form solutions exist for the basic Lucas-Uzawa model. We equate expressions for variables h(t) and u(t). We provide here condition for the unique closed-form solution and proposed an open question for evaluation of integral in closed-form. A similar analysis is carried out for the Lucas-Uzawa model with logarithmic utility preferences.

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  • Rehana Naz, 2017. "Closed-form Solutions for the Lucas-Uzawa model: Unique or Multiple," Papers 1712.08654, arXiv.org.
    • Handle: RePEc:arx:papers:1712.08654
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    References listed on IDEAS

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    1. Chilarescu, Constantin, 2011. "On the existence and uniqueness of solution to the Lucas–Uzawa model," Economic Modelling, Elsevier, vol. 28(1), pages 109-117.
    2. Dirk Bethmann, 2013. "Solving Macroeconomic Models with Homogeneous Technology and Logarithmic Preferences," Australian Economic Papers, Wiley Blackwell, vol. 52(1), pages 1-18, March.
    3. Chilarescu, Constantin, 2011. "On the existence and uniqueness of solution to the Lucas-Uzawa model," Economic Modelling, Elsevier, vol. 28(1-2), pages 109-117, January.
    4. Boucekkine, R. & Ruiz-Tamarit, J.R., 2008. "Special functions for the study of economic dynamics: The case of the Lucas-Uzawa model," Journal of Mathematical Economics, Elsevier, vol. 44(1), pages 33-54, January.
    5. Constantin Chilarescu & Ciprian Sipos, 2014. "Solving Macroeconomic Models with Homogenous Technology and Logarithmic Preferences - A Note," Economics Bulletin, AccessEcon, vol. 34(1), pages 541-550.
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