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The Ramsey model with AK technology and a bounded population growth rate

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  • Guerrini, Luca
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    Abstract

    This paper generalizes the Ramsey AK model by allowing the population growth rate to be variable over time subject only to be between prescribed upper and lower limits. Contrary to the standard AK setting, convergence can occur. Moreover, monotonicity as well as an asymptotic balanced growth path equilibrium may arise in the model.

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    File URL: http://www.sciencedirect.com/science/article/B6X4M-5023KF3-1/2/4b761b0bd1a86fdb0fa35dc5a6a2c061
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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Macroeconomics.

    Volume (Year): 32 (2010)
    Issue (Month): 4 (December)
    Pages: 1178-1183

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    Handle: RePEc:eee:jmacro:v:32:y:2010:i:4:p:1178-1183

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    Web page: http://www.elsevier.com/locate/inca/622617

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    Keywords: Ramsey AK model Bounded population growth rate;

    References

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    1. Tamura, Robert, 1996. "From decay to growth: A demographic transition to economic growth," Journal of Economic Dynamics and Control, Elsevier, vol. 20(6-7), pages 1237-1261.
    2. repec:ebl:ecbull:v:3:y:2007:i:15:p:1-8 is not listed on IDEAS
    3. Christopher D Carroll & Jody Overland & David N Weil, 1997. "Comparison Utility in a Growth Model," Economics Working Paper Archive 387, The Johns Hopkins University,Department of Economics.
    4. Daron Acemoglu & Jaume Ventura, 2002. "The World Income Distribution," The Quarterly Journal of Economics, MIT Press, vol. 117(2), pages 659-694, May.
    5. Alberto Bucci & Luca Guerrini, 2009. "Transitional Dynamics in the Solow-Swan Growth Model with AK Technology and Logistic Population Change," DEGIT Conference Papers c014_020, DEGIT, Dynamics, Economic Growth, and International Trade.
    6. Tamura, Robert, 2002. "Human capital and the switch from agriculture to industry," Journal of Economic Dynamics and Control, Elsevier, vol. 27(2), pages 207-242, December.
    7. Tamura, Robert, 1991. "Income Convergence in an Endogenous Growth Model," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 522-40, June.
    8. Boucekkine, Raouf & Licandro, Omar & Puch, Luis A. & del Rio, Fernando, 1999. "Vintage Capital and the Dynamics of the AK Model," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2000009, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    9. Sergio T. Rebelo, 1992. "Long Run Policy Analysis and Long Run Growth," NBER Working Papers 3325, National Bureau of Economic Research, Inc.
    10. Robert Tamura, 2002. "Human capital and economic development," Working Paper 2002-5, Federal Reserve Bank of Atlanta.
    11. Kocherlakota, Narayana R & Yi, Kei-Mu, 1996. "A Simple Time Series Test of Endogenous vs. Exogenous Growth Models: An Application to the United States," The Review of Economics and Statistics, MIT Press, vol. 78(1), pages 126-34, February.
    12. Palivos, Theodore & Wang, Ping & Zhang, Jianbo, 1997. "On the Existence of Balanced Growth Equilibrium," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(1), pages 205-24, February.
    13. Kocherlakota, Narayana R. & Yi, Kei-Mu, 1995. "Can convergence regressions distinguish between exogenous and endogenous growth models?," Economics Letters, Elsevier, vol. 49(2), pages 211-215, August.
    14. Massimiliano Ferrara & Luca Guerrini, 2008. "On the dynamics of a three-sector growth model," International Review of Economics, Springer, vol. 55(3), pages 275-283, September.
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    Citations

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    Cited by:
    1. Guerrini, Luca, 2010. "Transitional dynamics in the Ramsey model with AK technology and logistic population change," Economics Letters, Elsevier, vol. 109(1), pages 17-19, October.
    2. J. R. Ruiz-Tamarit & M. Ventura-Marco, . "Solution to Non-Linear MHDS arising from Optimal Growth Problems," Working Papers 2000-16, FEDEA.
    3. Guerrini, Luca, 2010. "A closed-form solution to the Ramsey model with logistic population growth," Economic Modelling, Elsevier, vol. 27(5), pages 1178-1182, September.

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