Closed-form Solutions for the Lucas-Uzawa model: Unique or Multiple
classification
💱 q-fin.EC
q-fin.ECq-fin.MF
keywords
closed-formlucas-uzawamodelsolutionsuniquebasicmultipleaccording
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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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