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Optimal Saving under Poisson Uncertainty

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  • Walde, Klaus

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  • Walde, Klaus, 1999. "Optimal Saving under Poisson Uncertainty," Journal of Economic Theory, Elsevier, vol. 87(1), pages 194-217, July.
  • Handle: RePEc:eee:jetheo:v:87:y:1999:i:1:p:194-217
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    1. Obstfeld, Maurice, 1994. "Risk-Taking, Global Diversification, and Growth," American Economic Review, American Economic Association, vol. 84(5), pages 1310-1329, December.
    2. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth through Creative Destruction," Econometrica, Econometric Society, vol. 60(2), pages 323-351, March.
    3. Merton, Robert C., 1971. "Optimum consumption and portfolio rules in a continuous-time model," Journal of Economic Theory, Elsevier, vol. 3(4), pages 373-413, December.
    4. Gene M. Grossman & Elhanan Helpman, 1991. "Quality Ladders in the Theory of Growth," Review of Economic Studies, Oxford University Press, vol. 58(1), pages 43-61.
    5. Turnovsky, Stephen J, 1993. "Macroeconomic Policies, Growth, and Welfare in a Stochastic Economy," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 34(4), pages 953-981, November.
    6. Jonathan Eaton, 1981. "Fiscal Policy, Inflation and the Accumulation of Risky Capital," Review of Economic Studies, Oxford University Press, vol. 48(3), pages 435-445.
    7. Jovanovic, Boyan & Lach, Saul, 1997. "Product Innovation and the Business Cycle," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(1), pages 3-22, February.
    8. Karl Shell, 2010. "Toward A Theory of Inventive Activity and Capital Accumulation," Levine's Working Paper Archive 1407, David K. Levine.
    9. Grossman, Gene M & Helpman, Elhanan, 1991. "Endogenous Product Cycles," Economic Journal, Royal Economic Society, vol. 101(408), pages 1214-1229, September.
    10. Grossman, Gene M & Helpman, Elhanan, 1991. "Endogenous Product Cycles," Economic Journal, Royal Economic Society, vol. 101(408), pages 1214-1229, September.
    11. Walde, Klaus, 1999. "A Model of Creative Destruction with Undiversifiable Risk and Optimising Households," Economic Journal, Royal Economic Society, vol. 109(454), pages 156-171, March.
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    Cited by:

    1. Posch, Olaf & Wälde, Klaus, 2005. "Natural volatility, welfare and taxation," W.E.P. - Würzburg Economic Papers 57, University of Würzburg, Chair for Monetary Policy and International Economics.
    2. Ken Sennewald & Klaus Wälde, 2006. "“Itô's Lemma” and the Bellman Equation for Poisson Processes: An Applied View," Journal of Economics, Springer, vol. 89(1), pages 1-36, October.
    3. Lee Endress & James Roumasset & Christopher Wada, 2016. "Do Natural Disasters Make Sustainable Growth Impossible?," Working Papers 2016-12, University of Hawaii Economic Research Organization, University of Hawaii at Manoa.
    4. Tapio Palokangas, 2005. "Common markets, economic growth, and creative destruction," Journal of Economics, Springer, vol. 86(1), pages 57-76, December.
    5. Christian Bayer & Klaus Wälde, 2010. "Matching and Saving in Continuous Time: Theory," CESifo Working Paper Series 3026, CESifo Group Munich.
    6. Posch, Olaf, 2009. "Structural estimation of jump-diffusion processes in macroeconomics," Journal of Econometrics, Elsevier, vol. 153(2), pages 196-210, December.
    7. Sennewald, Ken, 2005. "Controlled Stochastic Differential Equations under Poisson Uncertainty and with Unbounded Utility," Dresden Discussion Paper Series in Economics 03/05, Technische Universität Dresden, Faculty of Business and Economics, Department of Economics.
    8. Wälde, Klaus, 2001. "Capital accumulation in a model of growth and creative destruction," Dresden Discussion Paper Series in Economics 09/01, Technische Universität Dresden, Faculty of Business and Economics, Department of Economics.
    9. Tapio Palokangas, 2008. "Competition and product cycles with non-diversifiable risk," Journal of Economics, Springer, vol. 94(1), pages 1-30, June.
    10. Horii, Ryo & Ono, Yoshiyasu, 2009. "Information Cycles and Depression in a Stochastic Money-in-Utility Model," MPRA Paper 13485, University Library of Munich, Germany.
    11. Schlegel, Christoph, 2004. "Analytical and Numerical Solution of a Poisson RBC model," Dresden Discussion Paper Series in Economics 05/04, Technische Universität Dresden, Faculty of Business and Economics, Department of Economics.
    12. Tapio Palokangas, 2011. "Optimal patent length and breadth in an economy with creative destruction and non-diversifiable risk," Journal of Economics, Springer, vol. 102(1), pages 1-27, January.
    13. Lucas Bretschger & Alexandra Vinogradova, 2016. "Preservation of Agricultural Soils with Endogenous Stochastic Degradation," CER-ETH Economics working paper series 16/232, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    14. Alexandra Vinogradova, 2014. "Legal and illegal immigrants: an analysis of optimal saving behavior," Journal of Population Economics, Springer;European Society for Population Economics, vol. 27(1), pages 201-224, January.
    15. Steger, Thomas M., 2005. "Stochastic growth under Wiener and Poisson uncertainty," Economics Letters, Elsevier, vol. 86(3), pages 311-316, March.
    16. Sennewald, Ken, 2007. "Controlled stochastic differential equations under Poisson uncertainty and with unbounded utility," Journal of Economic Dynamics and Control, Elsevier, vol. 31(4), pages 1106-1131, April.
    17. Walde, Klaus, 2002. "The economic determinants of technology shocks in a real business cycle model," Journal of Economic Dynamics and Control, Elsevier, vol. 27(1), pages 1-28, November.
    18. LAFFORGUE Gilles, 2006. "On the Effects of Stochastic Technical Change on Optimal Sustainable Growth Paths with Exhaustible Resource," LERNA Working Papers 06.02.195, LERNA, University of Toulouse.
    19. Lafforgue, Gilles, 2008. "Stochastic technical change, non-renewable resource and optimal sustainable growth," Resource and Energy Economics, Elsevier, vol. 30(4), pages 540-554, December.
    20. Christian Bayer & Klaus Waelde, 2011. "Describing the Dynamics of Distributions in Search and Matching Models by Fokker-Planck Equations," Working Papers 1110, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz, revised 21 Jul 2011.
    21. Wälde, Klaus & Woitek, Ulrich, 2003. "R&D expenditure in G7 countries and implications for endogenous fluctuations and growth," Dresden Discussion Paper Series in Economics 03/03, Technische Universität Dresden, Faculty of Business and Economics, Department of Economics.
    22. Sennewald, Ken & Wälde, Klaus, 2005. ""Itô's Lemma" and the Bellman equation: An applied view," Dresden Discussion Paper Series in Economics 04/05, Technische Universität Dresden, Faculty of Business and Economics, Department of Economics.
    23. Parello, Carmelo Pierpaolo, 2011. "Labor market rigidity and productivity growth in a model of innovation-driven growth," Economic Modelling, Elsevier, vol. 28(3), pages 1058-1067, May.
    24. López, Santiago M. & Molero, José & Santos-Arteaga, Francisco J., 2011. "Poverty traps in a frictionless world: The effects of learning and technology assimilation," Structural Change and Economic Dynamics, Elsevier, vol. 22(2), pages 106-115, June.
    25. Tapio Palokangas, 2009. "Optimal Patent Length and Patent Width for an Economy with Creative Destruction and Non-Diversifiable Risk," DEGIT Conference Papers c014_024, DEGIT, Dynamics, Economic Growth, and International Trade.

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