Showing 1 - 10 of 52
uncertainty on capital inflows in such an economy generates long-term (expected) growth while the deterministic counterpart does … not. In this framework, long-term growth is entirely driven by precautionary savings. In particular, we show that the … asymptotic growth rate of the expected capital stock is an increasing function of both the risk parameter and the Arrow …
Persistent link: https://www.econbiz.de/10010900301
growing economy, that is when population growth is optimal in the long-run, this egalitarian rule can only hold when (i) the …
Persistent link: https://www.econbiz.de/10010583458
uncertainty on capital inflows in such an economy generates long-term (expected) growth while the deterministic counterpart does … not. In this framework, long-term growth is entirely driven by precautionary savings. In particular, we show that the … asymptotic growth rate of the expected capital stock is an increasing function of both the risk parameter and the Arrow …
Persistent link: https://www.econbiz.de/10010698384
growth path, human capital stock grows at a rate greater than its long-run counterpart when the ratio physical to human capi … neighborhood of balanced growth paths. More importantly, we identify a crucial asymmetry: what- ever the position of the capital …
Persistent link: https://www.econbiz.de/10005729963
In this paper we use a new analytical approach to the Lucas-Uzawa model (Boucekkine and Ruiz Tamarit, 2007) to extend the existing results on the dynamics, and notably on the imbalance effects arising in the model. The approach does not only allow to extend the traditional analysis to any...
Persistent link: https://www.econbiz.de/10014224952
uncertainty on capital inflows in such an economy generates long-term (expected) growth while the deterministic counterpart does … not. In this framework, long-term growth is entirely driven by precautionary savings. In particular, we show that the … asymptotic growth rate of the expected capital stock is an increasing function of both the risk parameter and the Arrow …
Persistent link: https://www.econbiz.de/10010933848
growing economy, that is when population growth is optimal in the long-run, this egalitarian rule can only hold when (i) the …
Persistent link: https://www.econbiz.de/10010933933
We study how economic growth is affected by demographics in an overlapping generations model with a realistic survival …. Endogenous growth arises thanks to the accumulation of generation-specific human capital. Favorable shifts in the survival … probabilities always induce longer schooling and later retirement but have an ambiguous effect on growth. The relationship between …
Persistent link: https://www.econbiz.de/10004985333
We study how economic growth is affected by demographics in an overlapping generations model with a realistic survival …. Endoneous growth arises thanks to the accumulation of generation-specific human capital. Favorable shifts in the survival … probabilities always induce longer schooling and later retirement but have an ambiguous effect on growth. The relationship between …
Persistent link: https://www.econbiz.de/10005811186
Persistent link: https://www.econbiz.de/10010395113