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On the equilibrium in a discrete-time Lucas Model

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  • Marius Valentin Boldea

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

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.

Suggested Citation

  • Marius Valentin Boldea, 2006. "On the equilibrium in a discrete-time Lucas Model," Post-Print halshs-00118829, HAL.
    • Handle: RePEc:hal:journl:halshs-00118829
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00118829
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    References listed on IDEAS

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