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The Steady-State Growth Theorem: Understanding Uzawa (1961)
作者：Charles I. Jones* and Dean Scrimgeour
学院：Department of Economics, U.C. Berkeley and NBER
Department of Economics, U.C. Berkeley
E-mail: chad@econ.berkeley.edu, dscrim@econ.berkeley.edu
网址：http://elsa.berkeley.edu/chad
November 16, 2005
简介：This note revisits the proof of the Steady-State Growth Theorem, rst given
by Uzawa in 1961. We provide a clear statement of the theorem and a new
version of Uzawa's proof that makes the intuition underlying the result more
apparent. For example, in the special case of factor-augmenting technical change,
i.e. Yt = F(BtKt;AtLt), the effective inputs BK and AL must grow at the
same rate in steady state; otherwise trends in the factor shares are induced. The
fact that effective inputs must “balance” suggests a new interpretation of balanced
growth. Because capital accumulates and therefore inherits the trend in AL, the
balance condition implies that technical change must be purely labor augmenting.
关键字Key Words: Steady state, balanced growth, labor-augmenting technical change.
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