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:	2002-10-01
Authors:	WAELDE, Klaus
Institutions:	Institut de Recherche Économique et Sociale (IRES), École des Sciences Économiques de Louvain
Subject:	Creative destruction \| Risk averse households \| Capital accumulation \| Endogenous fluctuations and growth

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Extent:	application/pdf
Series:	Discussion Papers (IRES - Institut de Recherches Economiques et Sociales).
Type of publication:	Book / Working Paper
Language:	English
Notes:	The text is part of a series UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES) Number 2002038 1 pages long
Classification:	E32 - Business Fluctuations; Cycles ; O41 - One, Two, and Multisector Growth Models ; O31 - Innovation and Invention: Processes and Incentives
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004985121