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A Closed Form Solution to the Ramsey Model

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Author Info
William T. 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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File URL: http://www.bepress.com/cgi/viewcontent.cgi?article=1356&context=bejm
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Publisher Info
Article provided by Berkeley Electronic Press in its journal The B.E. Journal of Macroeconomics.

Volume (Year): contributions.6 (2006)
Issue (Month): 1 ()
Pages:
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Handle: RePEc:bpj:bejmac:v:contributions.6:y:2006:i:1:n:3

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Web page: http://www.bepress.com/bejm

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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
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

Cited by:
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  1. Daniel Becker, 2007. "A Technical Note on Comparative Dynamics in a Fiscal Competition Model," Thuenen-Series of Applied Economic Theory 83, University of Rostock, Institute of Economics, Germany. [Downloadable!]
Statistics
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This page was last updated on 2009-12-1.

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