Capital accumulation in a model of growth and creative destruction

Capital accumulation and creative destruction is modeled together with risk-averse households. The novel aspect - risk-averse households - allows to use well-known models not only for analyzing long-run growth as in the literature but also short-run fluctuations. The model remains analytically tractable due to a very convenient property of the household's investment decision in this stochastic continuous-time setup.

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Year of publication:	2001
Authors:	Wälde, Klaus
Publisher:	Dresden : Technische Universität Dresden, Fakultät Wirtschaftswissenschaften
Subject:	Investition \| Wachstumstheorie \| Risikoaversion \| Innovationswettbewerb \| Konjunkturtheorie \| Theorie \| Creative destruction \| Risk averse households \| Capital accumulation \| Endogenous fluctuations and growth

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Series:	Dresden Discussion Paper Series in Economics ; 09/01
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	822166135 [GVK] hdl:10419/48110 [Handle] RePEc:zbw:tuddps:0901 [RePEc]
Classification:	E32 - Business Fluctuations; Cycles ; O31 - Innovation and Invention: Processes and Incentives ; O41 - One, Two, and Multisector Growth Models
Source:	EconStor

Persistent link: https://www.econbiz.de/10010305413