INCOME AND WEALTH DISTRIBUTION WITH PHYSICAL AND HUMAN CAPITAL ACCUMULATION: EXTENDING THE UZAWA-LUCAS MODEL TO A HETEROGENEOUS HOUSEHOLDS ECONOMY

This paper proposes a dynamic economic model with wealth accumulation and human capital accumulation with endogenous education. In addition to learning by education like in the Uzawa-Lucas model, we also consider Arrow's learning by producing and Zhang's learning by consuming (creative lea...

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Autor principal:	ZHANG,WEI-BIN
Lenguaje:	English
Publicado:	Pontificia Universidad Católica de Chile. Instituto de Economía. 2013
Materias:	learning by producing learning by consuming learning by education wealth and income distribution heterogeneous households
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0719-04332013000200005
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spelling	oai:scielo:S0719-043320130002000052014-01-29INCOME AND WEALTH DISTRIBUTION WITH PHYSICAL AND HUMAN CAPITAL ACCUMULATION: EXTENDING THE UZAWA-LUCAS MODEL TO A HETEROGENEOUS HOUSEHOLDS ECONOMYZHANG,WEI-BIN learning by producing learning by consuming learning by education wealth and income distribution heterogeneous households This paper proposes a dynamic economic model with wealth accumulation and human capital accumulation with endogenous education. In addition to learning by education like in the Uzawa-Lucas model, we also consider Arrow's learning by producing and Zhang's learning by consuming (creative learning) in the human capital accumulation equation. We simulate the model to demonstrate the existence of equilibrium points and motion of the dynamic system. We also examine how effects of changes in the propensity to receive education, the population, the propensity to save, and the education sector's total productivity will alter the paths of the economic dynamics.info:eu-repo/semantics/openAccessPontificia Universidad Católica de Chile. Instituto de Economía.Latin american journal of economics v.50 n.2 20132013-11-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0719-04332013000200005en
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	learning by producing learning by consuming learning by education wealth and income distribution heterogeneous households
spellingShingle	learning by producing learning by consuming learning by education wealth and income distribution heterogeneous households ZHANG,WEI-BIN INCOME AND WEALTH DISTRIBUTION WITH PHYSICAL AND HUMAN CAPITAL ACCUMULATION: EXTENDING THE UZAWA-LUCAS MODEL TO A HETEROGENEOUS HOUSEHOLDS ECONOMY
description	This paper proposes a dynamic economic model with wealth accumulation and human capital accumulation with endogenous education. In addition to learning by education like in the Uzawa-Lucas model, we also consider Arrow's learning by producing and Zhang's learning by consuming (creative learning) in the human capital accumulation equation. We simulate the model to demonstrate the existence of equilibrium points and motion of the dynamic system. We also examine how effects of changes in the propensity to receive education, the population, the propensity to save, and the education sector's total productivity will alter the paths of the economic dynamics.
author	ZHANG,WEI-BIN
author_facet	ZHANG,WEI-BIN
author_sort	ZHANG,WEI-BIN
title	INCOME AND WEALTH DISTRIBUTION WITH PHYSICAL AND HUMAN CAPITAL ACCUMULATION: EXTENDING THE UZAWA-LUCAS MODEL TO A HETEROGENEOUS HOUSEHOLDS ECONOMY
title_short	INCOME AND WEALTH DISTRIBUTION WITH PHYSICAL AND HUMAN CAPITAL ACCUMULATION: EXTENDING THE UZAWA-LUCAS MODEL TO A HETEROGENEOUS HOUSEHOLDS ECONOMY
title_full	INCOME AND WEALTH DISTRIBUTION WITH PHYSICAL AND HUMAN CAPITAL ACCUMULATION: EXTENDING THE UZAWA-LUCAS MODEL TO A HETEROGENEOUS HOUSEHOLDS ECONOMY
title_fullStr	INCOME AND WEALTH DISTRIBUTION WITH PHYSICAL AND HUMAN CAPITAL ACCUMULATION: EXTENDING THE UZAWA-LUCAS MODEL TO A HETEROGENEOUS HOUSEHOLDS ECONOMY
title_full_unstemmed	INCOME AND WEALTH DISTRIBUTION WITH PHYSICAL AND HUMAN CAPITAL ACCUMULATION: EXTENDING THE UZAWA-LUCAS MODEL TO A HETEROGENEOUS HOUSEHOLDS ECONOMY
title_sort	income and wealth distribution with physical and human capital accumulation: extending the uzawa-lucas model to a heterogeneous households economy
publisher	Pontificia Universidad Católica de Chile. Instituto de Economía.
publishDate	2013
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0719-04332013000200005
work_keys_str_mv	AT zhangweibin incomeandwealthdistributionwithphysicalandhumancapitalaccumulationextendingtheuzawalucasmodeltoaheterogeneoushouseholdseconomy
_version_	1714206732915310592

INCOME AND WEALTH DISTRIBUTION WITH PHYSICAL AND HUMAN CAPITAL ACCUMULATION: EXTENDING THE UZAWA-LUCAS MODEL TO A HETEROGENEOUS HOUSEHOLDS ECONOMY

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