Akao, Ken-Ichi; Kamihigashi, Takashi; Nishimura, Kazuo - In: Journal of Mathematical Economics 47 (2011) 6, pp. 677-682
We show that the critical capital stock of the Dechert and Nishimura (1983) model is a decreasing and continuous function of the discount factor. We also show that the critical capital stock merges with a nonzero steady state as the discount factor decreases to a certain boundary value, and that...