Jürgen Antony, Alfred Maussner
A further note on a new class of solutions to
dynamic programming problems arising in economic growth
Abstract:
This note extends the finding of Benhabib and Rusticchini (1994) who
provide a class of SDGE models, whose solution is characterized by a
constant savings rate. We show that this class of models may be
interpreted as a standard representative agent SDGE model with costly
adjustment of capital and provides a solution to the traditional
discrete time Ramsey problem.
JEL: C61, C68, E21, O4
Paper:
Paper available as pdf-file.
Beitrag Nr. 297, Volkswirtschaftliche Diskussionsreihe, Institut
für
Volkswirtschaftslehre der Universität Augsburg
Contact:
Jürgen
Antony
email: juergen.antony@wiwi.uni-augsburg.de
Alfred
Maussner, University of Augsburg, Department of Economics,
D-86135
Augsburg,
Germany, phone +49-821-598-4188, fax +49-821-598-4231,
email: alfred.maussner@wiwi.uni-augsburg.de
v.
K., 10.01.2008