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Endogenous growth and time to build: the AK case

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Author Info
Mauro Bambi () (Economics European University Institute)

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Abstract

In this paper an AK growth model is fully analyzed under the time to build assumption. The existence and uniqueness of the (real) balanced growth path and the oscillatory convergence of detrended capital while detrended consumption is constant over time is proved. Moreover the role of transversality conditions and the assumption of capital utilization depending on the time to build coefficient, make these results hold for any value of the delay

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Paper provided by Society for Computational Economics in its series Computing in Economics and Finance 2006 with number 77.

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Date of creation: 04 Jul 2006
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Handle: RePEc:sce:scecfa:77

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Related research
Keywords: AK model; Time to build; D-Subdivision method;

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Find related papers by JEL classification:
E00 - Macroeconomics and Monetary Economics - - General - - - General
E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Asea, Patrick K. & Zak, Paul J., 1999. "Time-to-build and cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 23(8), pages 1155-1175, August. [Downloadable!] (restricted)
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  2. Benhabib, Jess & Rustichini, Aldo, 1991. "Vintage capital, investment, and growth," Journal of Economic Theory, Elsevier, vol. 55(2), pages 323-339, December. [Downloadable!] (restricted)
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  3. Mauro BAMBI & Omar LICANDRO, 2004. "(In)determinacy and Time-to-Build," Economics Working Papers ECO2004/17, European University Institute. [Downloadable!]
  4. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-70, November. [Downloadable!] (restricted)
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  5. Boucekkine, Raouf & Germain, Marc & Licandro, Omar, 1997. "Replacement Echoes in the Vintage Capital Growth Model," Journal of Economic Theory, Elsevier, vol. 74(2), pages 333-348, June. [Downloadable!] (restricted)
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  6. Greenwood, Jeremy & Hercowitz, Zvi & Huffman, Gregory W, 1988. "Investment, Capacity Utilization, and the Real Business Cycle," American Economic Review, American Economic Association, vol. 78(3), pages 402-17, June. [Downloadable!] (restricted)
  7. Boucekkine, Raouf & Licandro, Omar & Puch, Luis A. & del Rio, Fernando, 2005. "Vintage capital and the dynamics of the AK model," Journal of Economic Theory, Elsevier, vol. 120(1), pages 39-72, January. [Downloadable!] (restricted)
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  8. Fabrice COLLARD & Omar LICANDRO & Luis A. PUCH, 2004. "The short-run dynamics of optimal growth models with delays," Economics Working Papers ECO2004/04, European University Institute. [Downloadable!]
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  9. Burnside, Craig & Eichenbaum, Martin, 1996. "Factor-Hoarding and the Propagation of Business-Cycle Shocks," American Economic Review, American Economic Association, vol. 86(5), pages 1154-74, December. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Ralph Winkler, 2008. "Optimal control of pollutants with delayed stock accumulation," Economics working paper series 08/91, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
  2. Fabbri, Giorgio, 2007. "Viscosity solutions to delay differential equations in demo-economy," MPRA Paper 2826, University Library of Munich, Germany. [Downloadable!]
  3. Mauro Bambi, 2008. "Unifying time-to-build theory," Economics working paper series 08/98, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
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This page was last updated on 2009-11-13.

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