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Capital accumulation in a model of growth and creative destruction

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  • Wälde, Klaus

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 household's investment decision in this stochastic continuous-time setup. --

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Bibliographic Info

Paper provided by Dresden University of Technology, Faculty of Business and Economics, Department of Economics in its series Dresden Discussion Paper Series in Economics with number 09/01.

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Date of creation: 2001
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Handle: RePEc:zbw:tuddps:0901

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Web page: http://www.tu-dresden.de/wiwi/
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Keywords: Creative destruction; Risk averse households; Capital accumulation; Endogenous fluctuations and growth;

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