(1) School of Mathematics and Statistics, Wuhan University, 430072 Wuhan, Hubei, China
Abstract:
The existence and uniqueness of the modified Uzawa Lucas growth model which incorporates unskilled labor as a distinct factor from human capital are given and the dynamics of the model is presented. Furthermore, the varieties of the time allocation to the physical and human capital production along the optimal path and the affections of fertility and the natural growth rate of human capital on economic growth are discussed.