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This study proves various global stability results for unbounded optimal growth models. The main theorem states that any optimal path will eventually be in the neighborhood of a balanced growth path if future utility is sufficiently weakly discounted. The assumptions allow for non-smooth...
Persistent link: https://www.econbiz.de/10011043001
still exhibits delay. …
Persistent link: https://www.econbiz.de/10011043048
available. Thus, our model features a special form of bargaining delay, in which agreements take place in multiple stages. Such …
Persistent link: https://www.econbiz.de/10010702848