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A NOTE ON AN EXTENSION OF A CLASS OF SOLUTIONS TO DYNAMIC PROGRAMMING PROBLEMS ARISING IN ECONOMIC GROWTH

This note extends the findings of Benhabib and Rusticchini [<italic>Journal of Economic Dynamics and Control</italic> 18, 807–813 (1994)], who provide a class of dynamic stochastic general equilibrium (DSGE) 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 DSGE model with costly adjustment of capital.
Year of publication:
2012
Authors: Antony, Jürgen ; Maußner, Alfred
Published in:
Macroeconomic Dynamics. - Cambridge University Press. - Vol. 16.2012, 03, p. 472-476
Publisher: Cambridge University Press
Description of contents: Abstract [journals.cambridge.org]
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Type of publication: Article
Source:
Persistent link: https://www.econbiz.de/10011120997
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