Non-convex aggregative technology and optimal economic growth.

This paper examines a model of optimal growth where the aggregation of two separate well behaved and concave production technologies exhibits a basic non-convexity. Multiple equilibria prevail in an intermediate range of interest rate. However, we show that the optimal paths monotonically converge to the one single appropriate equilibrium steady state.

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Year of publication:	2005-12
Authors:	Nguyen, Manh Hung ; Van, Cuong Le ; Michel, Philippe
Institutions:	Maison des Sciences Économiques, Université Paris 1 (Panthéon-Sorbonne)
Subject:	Non-convex aggregative technology \| optimal economic growth \| steady state

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Extent:	application/pdf
Series:	Cahiers de la Maison des Sciences Economiques. - ISSN 1624-0340.
Type of publication:	Book / Working Paper
Notes:	12 pages
Classification:	O22 - Project Analysis ; L11 - Production, Pricing, and Market Structure Size; Size Distribution of Firms
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005670915