A further note on a new class of solutions to dynamic programming problems arising in economic growth

This note extends the finding of Benhabib and Rusticchini (1994) who provide a class of SDGE models, whose solution is characterized by a constant savings rate. We show that this class of models may be interpreted as a standard representative agent SDGE model with costly adjustment of capital and provides a solution to the traditional discrete time Ramsey problem.

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Year of publication:	2008
Authors:	Antony, Jürgen ; Maußner, Alfred
Publisher:	Augsburg : Universität Augsburg, Institut für Volkswirtschaftslehre
Subject:	Dynamische Optimierung \| Dynamisches Gleichgewicht \| Stochastischer Prozess \| Faktorsubstitution \| Theorie \| Capital and labor substitution \| Dynamic programming \| Growth \| Numerical solutions of SDGE models

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Series:	Volkswirtschaftliche Diskussionsreihe ; 297
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	557258650 [GVK] hdl:10419/30808 [Handle] RePEc:aug:augsbe:0297 [RePEc]
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; C68 - Computable General Equilibrium Models ; E21 - Consumption; Saving ; O4 - Economic Growth and Aggregate Productivity
Source:	EconStor

Persistent link: https://www.econbiz.de/10010275810