Showing 1 - 10 of 1,689
This paper sets up a dynamic general equilibrium model to study how the composition of technical progress affects the asymptotic speed of convergence. The following questions are addressed: Will endogenizing a fraction of the productivity increases as coming from learning by investing help to...
Persistent link: https://www.econbiz.de/10008854415
Despite ‘joy of giving models’ have been extensively examined in the literature, the Ramsey growth model has never been explored under the assumption of a direct preference for bequeathing savings that are reinvested. This assumption implies a Utility function depending on both consumption...
Persistent link: https://www.econbiz.de/10011111348
This paper analyzes the impact of positional preferences, exhibiting conspicuous consumption and conspicuous wealth, on optimal consumption- and income taxes, for an endogenous growth model with public capital. Positional preferences raise the endogenous growth rate if the elasticity of...
Persistent link: https://www.econbiz.de/10011112961
This paper investigates household decisions when individual utility depends on a consumption reference level. The desire to ``keep up with the Joneses'' represents one such example. The prior literature shows that, in a Ramsey model, consumption externalities have no impact on steady state...
Persistent link: https://www.econbiz.de/10008595614
This article describes some dynamic aspects on dynastic utility incorporating two-sided altruism with an OLG setting. We analyzed the special case where the weights of two-sided altruism are dynamically inconsistent. The Bellman equation for two-sided altruism proves to be reduced to one-sided...
Persistent link: https://www.econbiz.de/10011111557
This paper shows that the standard optimal growth model can be solved explicitly by using a utility function describing preferences for consumption and savings. Such a maximising criterion including the flow of savings can actually be strongly motivated by two arguments. First, the basic...
Persistent link: https://www.econbiz.de/10008602752
Unexpectedly, and as a result of a simple exercise of intellectual curiosity, the resolution of the Ramsey growth problem with a Utility function underlying relative preferences for consumption and savings, provides remarkable results and interpretations. An advanced microeconomic analysis of...
Persistent link: https://www.econbiz.de/10011275122
Unexpectedly, and as a result of a simple exercise of intellectual curiosity, the resolution of the Ramsey growth problem with a Utility function underlying relative preferences for consumption and savings, happens to provide remarkable results and interpretations. An advanced microeconomic...
Persistent link: https://www.econbiz.de/10011275123
Surprisingly, and as a result of intellectual curiosity, the resolution of the Ramsey growth problem with a Utility function describing relative preferences for consumption and savings, happens to provide formidable results. An advanced microeconomic analysis of this particular assumption which...
Persistent link: https://www.econbiz.de/10011275128
Despite ‘joy of giving models’ have been extensively examined in the literature, the Ramsey growth model has never been explored under the assumption of a direct preference for bequeathing savings that are reinvested. This assumption implies a Utility function depending on both consumption...
Persistent link: https://www.econbiz.de/10011275129