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On Sustained Growth under Uncertainty

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Author Info
de Hek, Paul
Roy, Santanu

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Abstract

We analyze a stochastic one-sector model of economic growth and investigate the conditions under which long-run growth occurs almost surely. In contrast to the deterministic version of the model, the utility function plays a crucial role in determining the long-run behavior of output.

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Publisher Info
Article provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.

Volume (Year): 42 (2001)
Issue (Month): 3 (August)
Pages: 801-13
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Handle: RePEc:ier:iecrev:v:42:y:2001:i:3:p:801-13

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  1. Volker Grossmann, 2004. "How to Promote R&D-based Growth? Public Education Expenditure on Scientists and Engineers versus R&D Subsidies," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
  2. Paul A. de Hek, 2002. "Endogenous Technological Change under Uncertainty," Tinbergen Institute Discussion Papers 02-047/2, Tinbergen Institute, revised 08 Nov 2002. [Downloadable!]
    Other versions:
  3. Takashi Kamihigashi, 2003. "Almost Sure Convergence to Zero in Stochastic Growth Models," Discussion Paper Series 140, Research Institute for Economics & Business Administration, Kobe University. [Downloadable!]
  4. Olson, Lars & Roy, Santanu, 2005. "Theory of Stochastic Optimal Economic Growth," Working Papers 28601, University of Maryland, Department of Agricultural and Resource Economics. [Downloadable!]
  5. Takashi Kamihigashi & Santanu Roy, 2003. "A Nonsmooth, Nonconvex Model of Optimal Growth," Discussion Paper Series 158, Research Institute for Economics & Business Administration, Kobe University. [Downloadable!]
    Other versions:
  6. Klaus, WAELDE, 2003. "Endogenous growth cycles," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2004012, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES), revised 15 Mar 2004. [Downloadable!]
    Other versions:
    • Klaus Wälde, 2005. "Endogenous Growth Cycles," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 46(3), pages 867-894, 08. [Downloadable!] (restricted)
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This page was last updated on 2009-11-21.

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