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Time to build and aggregate fluctuations: A reconsideration

✍ Scribed by K.Geert Rouwenhorst


Book ID
113312016
Publisher
Elsevier Science
Year
1991
Tongue
English
Weight
838 KB
Volume
27
Category
Article
ISSN
0304-3932

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We analyze the dynamics of a simple growth model in which production occurs with a delay while new capital is installed (time-to-build). The time-to-build technology is shown to yield a system of functional (delay) di!erential equations with a unique steady state. We demonstrate that the steady stat