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A Closed Form Solution to the Ramsey Model

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Author Info
William Smith (University of Memphis)
Abstract

This paper derives a closed form solution for the Ramsey model with CRRA utility and Cobb-Douglas technology, for the case where capital's share is equal to the reciprocal of the intertemporal elasticity of substitution. The solution sheds light on the dynamics of the model and provides an exact expression for the speed of convergence.

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Publisher Info
Article provided by Berkeley Electronic Press in its journal Contributions to Macroeconomics.

Volume (Year): 6 (2006)
Issue (Month): 1 ()
Pages: 1356-1356
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Handle: RePEc:bep:maccon:v:6:y:2006:i:1:p:1356-1356

Note: oai:bepress:bejm-1356
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Related research
Keywords: growth Ramsey

Find related papers by JEL classification:
O49 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other

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  15. Benhabib, Jess & Rustichini, Aldo, 1994. "A note on a new class of solutions to dynamic programming problems arising in economic growth," Journal of Economic Dynamics and Control, Elsevier, vol. 18(3-4), pages 807-813. [Downloadable!] (restricted)
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  17. Raouf, BOUCEKKINE & Ramon, RUIZ-TAMARIT, . "Imbalance effects in the Lucas model : An analytical exploration," Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) Discussion Paper 2004005, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES). [Downloadable!]
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  18. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-70, November. [Downloadable!] (restricted)
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