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At Last! An Explicit Solution for the Ramsey Saddle Path

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Abstract

I derive an explicit solution for the saddle path in a Ramsey growth model. The existence of a closed form expression greatly simpliÞes the analysis of how the parameters of the utility function affects investments and growth.

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  • Mehlum, Halvor, 2003. "At Last! An Explicit Solution for the Ramsey Saddle Path," Memorandum 26/2002, Oslo University, Department of Economics.
    • Handle: RePEc:hhs:osloec:2002_026
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    References listed on IDEAS

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    1. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    2. Robert J. Barro & Paul Romer, 1993. "Economic Growth (1992)," NBER Books, National Bureau of Economic Research, Inc, number barr93-1, March.
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    More about this item

    Keywords

    Ramsey; growth; model;
    All these keywords.

    JEL classification:

    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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