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Uzawa's Theorem

Index Uzawa's Theorem

Uzawa's Theorem, also known as the Steady State Growth Theorem, is a theorem in macroeconomics concerning the form that technological change can take in the neoclassical and Solow–Swan growth models. [1]

8 relations: Endogenous growth theory, Hirofumi Uzawa, Homogeneous function, Macroeconomics, Ramsey–Cass–Koopmans model, Returns to scale, Solow–Swan model, Technological change.

Endogenous growth theory

Endogenous growth theory holds that economic growth is primarily the result of endogenous and not external forces.

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Hirofumi Uzawa

was a Japanese economist.

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Homogeneous function

In mathematics, a homogeneous function is one with multiplicative scaling behaviour: if all its arguments are multiplied by a factor, then its value is multiplied by some power of this factor.

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Macroeconomics

Macroeconomics (from the Greek prefix makro- meaning "large" and economics) is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole.

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Ramsey–Cass–Koopmans model

The Ramsey–Cass–Koopmans model, or Ramsey growth model, is a neoclassical model of economic growth based primarily on the work of Frank P. Ramsey, with significant extensions by David Cass and Tjalling Koopmans.

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Returns to scale

In economics, returns to scale and economies of scale are related but different terms that describe what happens as the scale of production increases in the long run, when all input levels including physical capital usage are variable (chosen by the firm).

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Solow–Swan model

The Solow–Swan model is an economic model of long-run economic growth set within the framework of neoclassical economics.

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Technological change

Technological change (TC), technological development, technological achievement, or technological progress is the overall process of invention, innovation and diffusion of technology or processes.

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References

[1] https://en.wikipedia.org/wiki/Uzawa's_Theorem

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