Capital accumulation in a model of growth and creative destruction
AbstractCapital 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 household’s investment decision in this stochastic continuous-time setup.
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Bibliographic InfoPaper 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.
Date of creation: 01 Oct 2002
Date of revision:
Creative destruction; Risk averse households; Capital accumulation; Endogenous fluctuations and growth;
Other versions of this item:
- Walde, Klaus, 2003. "Capital accumulation in a model of growth and creative destruction," Royal Economic Society Annual Conference 2003 216, Royal Economic Society.
- Wälde, Klaus, 2001. "Capital accumulation in a model of growth and creative destruction," Dresden Discussion Paper Series in Economics 09/01, Dresden University of Technology, Faculty of Business and Economics, Department of Economics.
- 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.
- 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; Research and Development; Intellectual Property Rights - - - 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)
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