Capital accumulation in a model of growth and creative destruction

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Capital accumulation in a model of growth and creative destruction

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Klaus WAELDE (University o Dresden - Germany)

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Klaus Wälde

Abstract

Capital accumulation and creative destruction is modeled together with risk-averse households. The novel aspect - risk-averse households - allows to use well-known models not only for analyzing long-run growth as in the literature but also short-run fluctuations. The model remains analytically tractable due to a very convenient property of the householdÕs investment decision in this stochastic continuous-time setup.

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Publisher Info
Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) with number 2002038.

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Length: 19
Date of creation: 01 Oct 2002
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Handle: RePEc:ctl:louvir:2002038

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Paper
- Klaus Walde, 2001. "Capital accumulation in a model of growth and creative destruction," Discussion Paper / Institute for Empirical Macroeconomics 139, Federal Reserve Bank of Minneapolis. [Downloadable!]

Find related papers by JEL classification:
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
O31 - Economic Development, Technological Change, and Growth - - Technological Change - - - Innovation and Invention: Processes and Incentives

This paper has been announced in the following NEP Reports:

NEP-ALL-2003-05-15 (All new papers)
NEP-DEV-2003-05-15 (Development)
NEP-DGE-2003-05-15 (Dynamic General Equilibrium)

References listed on IDEAS
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Other versions:
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