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:	Walde, Klaus
Institutions:	Federal Reserve Bank of Minneapolis
Subject:	Capital

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Extent:	application/pdf
Series:	Discussion Paper / Institute for Empirical Macroeconomics.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 139
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005712952