DAI, Darong; SHEN, Kunrong - In: Theoretical and Applied Economics XVIII(2013) (2013) 11(588), pp. 25-40
In the current study, we investigate efficient capital accumulation in a stochastic neoclassical aggregate growth model. The underlying uncertainty is driven by Brownian-motion shocks and the major results do not rely on the specification of production functions. The stochastic balanced path of...