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Existence of a competitive equilibrium in a one sector growth model with heterogeneous agents and irreversible investment

✍ Scribed by Cuong Le Van; Yiannis Vailakis

Publisher
Springer
Year
2003
Tongue
English
Weight
264 KB
Volume
22
Category
Article
ISSN
0938-2259

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Equilibrium dynamics in the one-sector e
Equilibrium dynamics in the one-sector endogenous growth model with physical and human capital
✍ Manuel A. GΓ³mez πŸ“‚ Article πŸ“… 2003 πŸ› Elsevier Science 🌐 English βš– 421 KB

This paper concerns the transitional dynamics of the one sector endogenous growth model with physical and human capital when gross investments are irreversible. It has been claimed that the transition path is on the stable saddle path of the system that describes the dynamics of the economy as long