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:	2008-01
Authors:	Antony, Juergen ; Maussner, Alfred
Institutions:	Institut für Volkswirschaftlehre, Fakultät für Wirtschaftswissenschaften
Subject:	capital and labor substitution \| dynamic programming \| growth \| numerical solutions of SDGE models

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Extent:	application/pdf
Series:	Discussion Paper Series.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 297
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; C68 - Computable General Equilibrium Models ; E21 - Consumption; Saving ; O4 - Economic Growth and Aggregate Productivity
Source:	RePEc - Research Papers in Economics

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005392590