Capital accumulation in a model of growth and creative destruction

Capital accumulation and creative destruction is modeled together with risk-averse households. The novel aspect - risk-averse households - allows to use well-known models not only for analyzing long-run growth as in the literature but also short-run fluctuations. The model remains analytically tractable due to a very convenient property of the household's investment decision in this stochastic continuous-time setup.

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Year of publication:	2001
Authors:	Wälde, Klaus
Institutions:	Fakultät Wirtschaftswissenschaften, Technische Universität Dresden
Subject:	Creative destruction \| Risk averse households \| Capital accumulation \| Endogenous fluctuations and growth

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Extent:	application/pdf
Series:	Dresden Discussion Paper Series in Economics. - ISSN 0945-4829.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 09/01
Classification:	E32 - Business Fluctuations; Cycles ; O31 - Innovation and Invention: Processes and Incentives ; O41 - One, Two, and Multisector Growth Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009226139