Endogenous Growth in Multisector Ramsey Models
In this paper, the author gives sufficient conditions for the existence of endogenously growing optimal paths in a general multisector Ramsey model of optimal capital accumulation. The key assumption involves the existence of a positive vector of capital stocks, which admits strictly positive consumption and expansibility in inverse proportion to the utility discount factor. If the technology set contains the ray through such a point, in addition to standard convexity and inferiority assumptions, then optimal paths grow without bound from any strictly positive initial stocks. The result unifies a number of existing models in the growth theory literature. Copyright 1996 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 37 (1996)
Issue (Month): 2 (May)
|Contact details of provider:|| Postal: 160 McNeil Building, 3718 Locust Walk, Philadelphia, PA 19104-6297|
Phone: (215) 898-8487
Fax: (215) 573-2057
Web page: http://www.econ.upenn.edu/ier
More information through EDIRC
|Order Information:|| Web: http://www.blackwellpublishing.com/subs.asp?ref=0020-6598 Email: |
When requesting a correction, please mention this item's handle: RePEc:ier:iecrev:v:37:y:1996:i:2:p:403-21. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or ()
If references are entirely missing, you can add them using this form.