On the dynamics of capital accumulation across space
We solve an optimal growth model in continuous space, continuous and bounded time. The optimizer chooses the optimal trajectories of capital and consumption across space and time by maximizing an objective function with both space and time discounting. We extract the corresponding Pontryagin conditions and prove their sufficiency. We end up with a system of two parabolic differential equations with the corresponding boundary conditions. Then, we study the roles of initial capital and technology distributions over space in various scenarios.
|Date of creation:||12 Aug 2011|
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- Boucekkine, Raouf & Camacho, Carmen & Zou, Benteng, 2009.
"Bridging The Gap Between Growth Theory And The New Economic Geography: The Spatial Ramsey Model,"
Cambridge University Press, vol. 13(01), pages 20-45, February.
- BOUCEKKINE, Raouf & CAMACHO, Carmen & ZOU, Benteng, "undated". "Bridging the gap between growth theory and the new economic geography: The spatial Ramsey model," CORE Discussion Papers RP 2090, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- BOUCEKKINE, Raouf & CAMACHO, Carmen & ZOU, Benteng, 2006. "Bridging the gap between growth theory and the new economic geography: the spatial Ramsey model," CORE Discussion Papers 2006072, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Raouf Boucekkine & Carmen Camacho & Benteng Zou, 2006. "Bridging the gap between growth theory and the new economic geography: The spatial Ramsey model," DEGIT Conference Papers c011_039, DEGIT, Dynamics, Economic Growth, and International Trade.
- Raouf Boucekkine & C. Camacho & B. Zou, 2007. "Bridging the gap between growth theory and the new economic geography: The spatial Ramsey model," Working Papers 2007_27, Business School - Economics, University of Glasgow.
- Raouf, BOUCEKKINE & Carmen, CAMACHO & Benteng, ZOU, 2006. "Bridging the Gap between Growth Theory and the New Economic Geography : The Spatial Ramsey Model," Discussion Papers (ECON - Département des Sciences Economiques) 2006038, Université catholique de Louvain, Département des Sciences Economiques.
- Raouf Boucekkine & Carmen Camacho & Zou Benteng, 2009. "Bridging the Gap between Growth Theory and the New Economic Geography: the Spatial Ramsey Model," Post-Print hal-00683809, HAL.
- Krugman, Paul, 1991. "Increasing Returns and Economic Geography," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 483-499, June.
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- Krugman, Paul, 1993. "On the number and location of cities," European Economic Review, Elsevier, vol. 37(2-3), pages 293-298, April.
- Pascal Mossay, 2003. "Increasing Returns And Heterogeneity In A Spatial Economy," Working Papers. Serie AD 2003-04, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Mossay, Pascal, 2003. "Increasing returns and heterogeneity in a spatial economy," Regional Science and Urban Economics, Elsevier, vol. 33(4), pages 419-444, July.
- Paulo Brito, 2004. "The Dynamics of Growth and Distribution in a Spatially Heterogeneous World," Working Papers Department of Economics 2004/14, ISEG - School of Economics and Management, Department of Economics, University of Lisbon. Full references (including those not matched with items on IDEAS)
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