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Optimal Growth when Tastes are Inherited Author info | Abstract | Publisher info | Download info | Related research | Statistics De La Croix, D.
Michel, P.
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We address the issue of optimal growth when standard-of-living aspirations are transmitted from one generation to the next. We derive the condition for the optimal solution to be stable in the saddle-point sense and show that this optimal solutionmay display damped oscillations even when the planner does not discount the utility of future generations (golden rule case).
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Paper provided by ASSET (Association of Southern European Economic Theorists) in its series ASSET - Instituto De Economia Publica with number
168.
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Length: 16 pages
Date of creation: 1997Date of revision:
Handle: RePEc:fth:inecpu:168Contact details of provider: Postal: ASSET - Instituto De Economia Publica Facultad de Ciencias Economicas Y Empresariales . Avenida Lehendakari Aguirre, 83. 48015 Bilbao. Spain Phone: + 33 - 4 91 14 07 70 Fax: + 33 - 4 91 90 02 27 Email: Web page: http://www.vcharite.univ-mrs.fr/ASSET/ More information through EDIRC
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Keywords: EXTERNALITIES ; INVESTMENTS ; SUBSIDIES ; Other versions of this item:
Article Paper de La Croix, D. & Michel, P., 1997.
"Optimal Growth When Tastes Are Inherited ,"
G.R.E.Q.A.M.
97a21, Universite Aix-Marseille III.
de la Croix, David & Michel, Philippe, 1997.
"Optimal growth when tastes are inherited ,"
Discussion Papers (IRES - Institut de Recherches Economiques et Sociales)
1997012, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES), revised 00 Jun 1997.
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