Sustainable economy growth model based on pollution control, technological change and human capital accumulation

2008 ◽  
Author(s):  
Shi-chun Xu ◽  
Zheng-xia He
Keyword(s):  
Human Capital ◽  
Technological Change ◽  
Growth Model ◽  
Pollution Control ◽  
Capital Accumulation ◽  
Human Capital Accumulation ◽  
Economy Growth ◽  
Model Based ◽  
Sustainable Economy

scholarly journals GLOBAL DEVELOPMENT, TRADE, HUMAN CAPITAL, AND BUSINESS CYCLES

2020 ◽  
Vol 5 (Special) ◽  
pp. 9-29
Author(s):  
Wei-Bin Zhang
Keyword(s):  
Human Capital ◽  
Growth Model ◽  
Capital Accumulation ◽  
Equilibrium Points ◽  
Human Capital Accumulation ◽  
Learning Abilities ◽  
Exogenous Shocks ◽  
Trade Model ◽  
Comprehensive Framework ◽  
National Economies

This paper generalizes the multi-country growth model with capital accumulation, human capital accumulation, economic structure and international trade by Zhang (2014) by making all the time-independent parameters in Zhang’s model as time-dependent parameters. Each national economy consists of one tradable, one non-tradable and one education sector. National economies are different in propensities to save, to obtain education and to consume, and in learning abilities. The model integrates the Solow growth model, the Uzawa two-sector growth model, the Uzawa-Lucas two-sector growth model, and the Oniki–Uzawa trade model within a comprehensive framework. Human capital accumulation is through education in the Uzawa-Lucas model, Arrow’s learning by producing, and Zhang’s learning by consuming (creative learning). The behavior of the household is described with an alternative approach to household behavior. We simulated the model to demonstrate existence of equilibrium points, motion of the dynamic system, and oscillations due to different exogenous shocks.

scholarly journals HUMAN CAPITAL AND INNOVATION IN A MONETARY SCHUMPETERIAN GROWTH MODEL

2017 ◽  
Vol 23 (5) ◽  
pp. 1875-1894 ◽  
Author(s):  
Angus C. Chu ◽  
Lei Ning ◽  
Dongming Zhu
Keyword(s):  
Monetary Policy ◽  
Human Capital ◽  
Interest Rate ◽  
Growth Model ◽  
Growth Rates ◽  
Capital Accumulation ◽  
Nominal Interest Rate ◽  
Human Capital Accumulation ◽  
Schumpeterian Growth ◽  
Long Run

This study explores the growth and welfare effects of monetary policy in a scale-invariant Schumpeterian growth model with endogenous human capital accumulation. We model money demand via a cash-in-advance (CIA) constraint on research and development (R&D) investment. Our results can be summarized as follows. We find that an increase in the nominal interest rate leads to a decrease in R&D and human capital investment, which, in turn, reduces the long-run growth rates of technology and output. This result stands in stark contrast to the case of exogenous human capital accumulation in which the long-run growth rates of technology and output are independent of the nominal interest rate. Simulating the transitional dynamics, we find that the additional long-run growth effect under endogenous human capital accumulation amplifies the welfare effect of monetary policy. Decreasing the nominal interest rate from 10% to 0% leads to a welfare gain that is equivalent to a permanent increase in consumption of 2.82% (2.38%) under endogenous (exogenous) human capital accumulation.

Human Capital and Growth

2015 ◽  
Vol 105 (5) ◽  
pp. 85-88 ◽  
Author(s):  
Robert E. Lucas
Keyword(s):  
Human Capital ◽  
Growth Model ◽  
Capital Accumulation ◽  
Human Capital Accumulation ◽  
Central Hypothesis

This paper describes a growth model with the property that human capital accumulation can account for all observed growth. The model is shown to be consistent with evidence on individual productivities as measured by census earnings data. The central hypothesis is that we learn more when we interact with more productive people.

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