Rahul Sharma (Editor)

Uzawa–Lucas model

Updated on
Edit
Like
Comment
Share on FacebookTweet on TwitterShare on LinkedInShare on Reddit

The Uzawa–Lucas model is an economic model of endogenous growth developed by Robert Lucas, Jr., building upon initial contributions by Hirofumi Uzawa. It extends the AK model by a two-sector setup, in which physical and human capital are produced by different technologies. The model explains long-run economic growth as consequence of human capital accumulation.

References

Uzawa–Lucas model Wikipedia