The Stochastic Model Of Endogenous Growth With Human Capital

This thesis carries on relevant research to the economic model of human capital by the optimized method. First introducing the development of the deterministic human capital model .Through the analysis of endogenous R&D model and Romer model, it finds that with the accumulation of technology and capital, economy increases along the path of balance , and technology, consumption, capital increase at the same speed. So long as a country developing along the optimal growing path , it can reach its optimal growing rate finally. Because of the limitation of certainty, it is unable to consider some influence of random factors of the realistic problem. By contrast the model of uncertainty and practical problem is close more. Then it analyzes that the capital and labor in Solow model have random disturbance. And then considering the model of human capital H on the basis of Solow model with random disturbance. Through the analysis of this problem we find: Under certain condition , the economy of the straight starting point or is on the brink of collapsing , or presents the index to increase finally. Finally, supposing a social projector invests to education, the cost originates from both the tax of the individual's income and the bond, and the interest rate of the bond and the capital have random disturbance. Then setting up a model of uncertainty on this basis. Through the analysis of this model we find: First, when the individual does not consider the risk , the individual's preference is positive to economic influence; Uncertainty relates to factors such as tax rate, individual preference to economic influence; Second, very light partiality as individual to human capital , risk detesting enough little too, the tax rate is passive to economic influence; Optimal economic growth rate and the ratio of human capital cost to physical capital cost can be confirmed when the economy gets to equilibrium.