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'Love of wealth' and economic growth : conference paper
Rehme, Günther - 2014
This paper complements research on how love of wealth bears on key variables in a Ramsey-Cass-Koopmans growth framework …. It is shown that for an optimum the social planner cannot have an excessive love of wealth. If the planner has the 'right …' love of wealth an optimum exists and implies higher long-run per capita capital, income and consumption relative to the …
Persistent link: https://www.econbiz.de/10010482448
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"Love of wealth" and economic growth
Rehme, Günther - In: Review of development economics 21 (2017) 4, pp. 1305-1326
Persistent link: https://www.econbiz.de/10011814510
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"Love of Wealth" and economic growth
Rehme, Günther - 2011
This paper complements research on how love of wealth bears on key variables in a Ramsey-Cass-Koopmans growth framework …. It is shown that for an optimum the social planner cannot have an excessive love of wealth. If the planner has the right … love of wealth an optimum exists and implies higher long-run per capita capital, income and consumption relative to the …
Persistent link: https://www.econbiz.de/10010323732
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Steady-state growth and the elasticity of substitution
Irmen, Andreas - 2010 - This version: February 9, 2010.
In a neoclassical economy with endogenous capital- and labor-augmenting technical change the steady-state growth rate of output per worker is shown to increase in the elasticity of substitution between capital and labor. This confirms the assessment of Klump and de La Grandville (2000) that the...
Persistent link: https://www.econbiz.de/10003931235
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Welfare analysis in a Schumpeterian growth model with capital
Hagedorn, Marcus; Kaul, Ashok; Reinthaler, Volker - 2001
In this note we compare the laissez-faire steady-state solution in the Howitt and Aghion (1998) model to the social optimum. The analysis offers several new insights in comparison to the welfare analysis in Aghion and Howitt (1992). We find various new distortions between private and optimal...
Persistent link: https://www.econbiz.de/10011401108
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Steady-state growth and the elasticity of substitution
Irmen, Andreas - 2010
In a neoclassical economy with endogenous capital- and labor-augmenting technical change the steady-state growth rate of output per worker is shown to increase in the elasticity of substitution between capital and labor. This confirms the assessment of Klump and de La Grandville (2000) that the...
Persistent link: https://www.econbiz.de/10003938203
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Steady-State Growth and the Elasticity of Substitution
Irmen, Andreas - 2021
In a neoclassical economy with endogenous capital- and labor-augmenting technical change the steady-state growth rate of output per worker is shown to increase in the elasticity of substitution between capital and labor. This confirms the assessment of Klump and de La Grandville (2000) that the...
Persistent link: https://www.econbiz.de/10013316247
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Deterministic and Stochastic Three-Sector Dynamic Growth Model with Endogenous Labor Supply
Dobrescu, Loretti; Neamtu, Mihaela; Opris, Dumitru - 2012
This paper explores the stability of the stationary state for a dynamic growth model with wealth and human capital …
Persistent link: https://www.econbiz.de/10014041760
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Factor substitution, income distribution, and growth in a generalized neoclassical model
Irmen, Andreas; Klump, Rainer - 2007 - This Version: October 16, 2007
We analyze a generalized neoclassical growth model that combines a normalized CES production function and possible asymmetries of savings out of factor incomes. This generalized model helps to shed new light on a recent debate concerning the impact of factor substitution and income distribution...
Persistent link: https://www.econbiz.de/10003592897
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Numerical explorations of the Ngai-Pissarides model of growth and structural change
Dietrich, Andreas; Krüger, Jens - 2010
In this paper we specialize the Ngai-Pissarides model of growth and structural change [American Economic Review 97 (2007), 429-443] to the case of three sectors, representing the primary (agriculture, mining), secondary (construction, manufacturing) and tertiary (services) sectors. On that basis...
Persistent link: https://www.econbiz.de/10008732111