About: Uzawa's theorem

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Uzawa's theorem, also known as the steady state growth theorem, is a theorem in economic growth theory concerning the form that technological change can take in the Solow–Swan and Ramsey–Cass–Koopmans growth models. It was first proved by Japanese economist Hirofumi Uzawa.

Attributes	Values
rdfs:label	Uzawa's theorem (en)
rdfs:comment	Uzawa's theorem, also known as the steady state growth theorem, is a theorem in economic growth theory concerning the form that technological change can take in the Solow–Swan and Ramsey–Cass–Koopmans growth models. It was first proved by Japanese economist Hirofumi Uzawa. (en)
dcterms:subject	Technological change Economics theorems Macroeconomics
Wikipage page ID	56351412 (xsd:integer)
Wikipage revision ID	1093144189 (xsd:integer)
Link from a Wikipage to another Wikipage	Harrod neutral Homogeneous function Returns to scale Technological change Economic growth Hirofumi Uzawa Economics theorems Macroeconomics Solow–Swan model Gross domestic product Ordinary differential equation Ramsey–Cass–Koopmans model Technological change Labor-augmenting
sameAs	Uzawa's theorem Uzawa's theorem
dbp:wikiPageUsesTemplate	dbt:Reflist
has abstract	Uzawa's theorem, also known as the steady state growth theorem, is a theorem in economic growth theory concerning the form that technological change can take in the Solow–Swan and Ramsey–Cass–Koopmans growth models. It was first proved by Japanese economist Hirofumi Uzawa. One general version of the theorem consists of two parts. The first states that, under the normal assumptions of the Solow and Neoclassical models, if (after some time T) capital, investment, consumption, and output are increasing at constant exponential rates, these rates must be equivalent. Building on this result, the second part asserts that, within such a balanced growth path, the production function, (where is technology, is capital, and is labor), can be rewritten such that technological change affects output solely as a scalar on labor (i.e. ) a property known as labor-augmenting or Harrod-neutral technological change. Uzawa's theorem demonstrates a significant limitation of the commonly used Neoclassical and Solow models. Imposing the assumption of balanced growth within such models requires that technological change be labor-augmenting. By contraposition, any production function for which it is not possible to represent the effect of technology as a scalar on labor cannot produce a balanced growth path. (en)
prov:wasDerivedFrom	wikipedia-en:Uzawa's_theorem?oldid=1093144189&ns=0
page length (characters) of wiki page	8176 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:Uzawa's_theorem
is Link from a Wikipage to another Wikipage of	Steady State Growth Theorem Uzawa's Theorem
is Wikipage redirect of	Steady State Growth Theorem Uzawa's Theorem
is foaf:primaryTopic of	wikipedia-en:Uzawa's_theorem

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