In this paper we adapt a discrete time version of the Lucas model with social protection where part of the total production is devoted to the health expenditures. The output is produced by labor and the technomogy exhibits externalities. The rate of growth of human capital depends on the ratio of health expenditures over GDP. We give conditions for which the optimal human capital sequences are increasing. When the instantaneous utility function is isoelastic and the production function is COBB-DOUGLAS, we prove that the optimal human capital sequences grow at constant rate. Moreover, we prove there exists a unuique equilibrium in the sense of LUCAS [1988] or ROMER [1986]
Publié le : 2004-07-05
Classification:
Health Care,
Optimal Growth,
Lucas Model,
Human Capital,
[SHS.ECO]Humanities and Social Sciences/Economies and finances,
[MATH.MATH-OC]Mathematics [math]/Optimization and Control [math.OC]
@article{halshs-00119022,
author = {Gourdel, Pascal and Hoang-Ngoc, Liem and Le Van, Cuong and Mazamba, T\'edi\'e},
title = {Health Care and Economic Growth},
journal = {HAL},
volume = {2004},
number = {0},
year = {2004},
language = {en},
url = {http://dml.mathdoc.fr/item/halshs-00119022}
}
Gourdel, Pascal; Hoang-Ngoc, Liem; Le Van, Cuong; Mazamba, Tédié. Health Care and Economic Growth. HAL, Tome 2004 (2004) no. 0, . http://gdmltest.u-ga.fr/item/halshs-00119022/