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Transitional dynamics in the Ramsey model with AK technology and logistic population change

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  • Guerrini, Luca

Abstract

This paper shows that convergence can occur even for AK models if the population growth model is logistic. Moreover, the model is solved analytically, with the capital path expressed in closed-form in terms of Gauss hypergeometric functions.

Suggested Citation

  • Guerrini, Luca, 2010. "Transitional dynamics in the Ramsey model with AK technology and logistic population change," Economics Letters, Elsevier, vol. 109(1), pages 17-19, October.
  • Handle: RePEc:eee:ecolet:v:109:y:2010:i:1:p:17-19
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    References listed on IDEAS

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    1. Bucci Alberto & Guerrini Luca, 2009. "Transitional Dynamics in the Solow-Swan Growth Model with AK Technology and Logistic Population Change," The B.E. Journal of Macroeconomics, De Gruyter, vol. 9(1), pages 1-17, December.
    2. 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.
    3. Guerrini, Luca, 2006. "The Solow-Swan model with a bounded population growth rate," Journal of Mathematical Economics, Elsevier, vol. 42(1), pages 14-21, February.
    4. Gómez, Manuel A., 2008. "Convergence speed in the Ak endogenous growth model with habit formation," Economics Letters, Elsevier, vol. 100(1), pages 16-21, July.
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    7. Guerrini, Luca, 2010. "The Ramsey model with AK technology and a bounded population growth rate," Journal of Macroeconomics, Elsevier, vol. 32(4), pages 1178-1183, December.
    8. Carroll, Christopher D & Overland, Jody & Weil, David N, 1997. "Comparison Utility in a Growth Model," Journal of Economic Growth, Springer, vol. 2(4), pages 339-367, December.
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    12. Tamura, Robert, 1991. "Income Convergence in an Endogenous Growth Model," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 522-540, June.
    13. Kocherlakota, Narayana R. & Yi, Kei-Mu, 1995. "Can convergence regressions distinguish between exogenous and endogenous growth models?," Economics Letters, Elsevier, vol. 49(2), pages 211-215, August.
    14. Guerrini, Luca, 2010. "A closed-form solution to the Ramsey model with logistic population growth," Economic Modelling, Elsevier, vol. 27(5), pages 1178-1182, September.
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    Cited by:

    1. Antony, Jürgen & Klarl, Torben, 2019. "Resource depletion in a Ramsey economy with subsistence consumption, exogenous technical change and capital depreciation: A full characterization," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203640, Verein für Socialpolitik / German Economic Association.
    2. Getachew, Yoseph Yilma, 2012. "Do Ak models really lack transitional dynamics?," MERIT Working Papers 2012-011, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    3. Gómez, Manuel A., 2014. "Equilibrium dynamics in a class of one-sector endogenous growth models with external habits: An application of special functions," Journal of Mathematical Economics, Elsevier, vol. 51(C), pages 50-54.
    4. Getachew, Yoseph Yilma, 2016. "Credit constraints, growth and inequality dynamics," Economic Modelling, Elsevier, vol. 54(C), pages 364-376.
    5. Tramontana, Fabio & Sushko, Iryna & Avrutin, Viktor, 2015. "Period adding structure in a 2D discontinuous model of economic growth," Applied Mathematics and Computation, Elsevier, vol. 253(C), pages 262-273.
    6. Fabio Tramontana & Viktor Avrutin, 2014. "Complex endogenous dynamics in a one-sector growth model with differential savings," DEM Working Papers Series 078, University of Pavia, Department of Economics and Management.
    7. Kajanovičová, Viktória & Novotný, Branislav & Pospíšil, Michal, 2020. "Ramsey model with non-constant population growth," Mathematical Social Sciences, Elsevier, vol. 104(C), pages 40-46.

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