A Closed Form Solution to the Ramsey Model

This paper derives a closed form solution for the Ramsey model with CRRA utility and Cobb-Douglas technology, for the case where capital's share is equal to the reciprocal of the intertemporal elasticity of substitution. The solution sheds light on the dynamics of the model and provides an exact expression for the speed of convergence.

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Year of publication:	2006
Authors:	T, Smith William
Published in:	The B.E. Journal of Macroeconomics. - De Gruyter, ISSN 1935-1690. - Vol. 6.2006, 1, p. 1-27
Publisher:	De Gruyter

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008536551