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Endogenous growth and time to build: the AK case

  • Mauro Bambi

    ()

    (Economics European University Institute)

In this paper an AK growth model is fully analyzed under the time to build assumption. The existence and uniqueness of the (real) balanced growth path and the oscillatory convergence of detrended capital while detrended consumption is constant over time is proved. Moreover the role of transversality conditions and the assumption of capital utilization depending on the time to build coefficient, make these results hold for any value of the delay

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File URL: http://repec.org/sce2006/up.9007.1139242237.pdf
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Paper provided by Society for Computational Economics in its series Computing in Economics and Finance 2006 with number 77.

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Date of creation: 04 Jul 2006
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Handle: RePEc:sce:scecfa:77
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  1. Fabrice Collard & Omar Licandro & Luis A. Puch, 2006. "Time-to-Build Echoes," Working Papers 2006-16, FEDEA.
  2. Boucekkine, Raouf & Germain, Marc & Licandro, Omar, 1997. "Replacement Echoes in the Vintage Capital Growth Model," Journal of Economic Theory, Elsevier, vol. 74(2), pages 333-348, June.
  3. Collard, Fabrice & Licandro, Omar & Puch, Luis, 2005. "The Short-Run Dynamics of Optimal Growth Models with Delays," CEPR Discussion Papers 5414, C.E.P.R. Discussion Papers.
  4. Patrick Asea & Paul J. Zak, 1997. "Time-to-Build and Cycles," UCLA Economics Working Papers 767, UCLA Department of Economics.
  5. Raouf BOUCEKKINE & Omar LICANDRO & Luis A. PUCH & Fernando DEL RIO, 2002. "Vintage Capital And the Dynamics of the AK Model," Economics Working Papers ECO2002/07, European University Institute.
  6. Craig Burnside & Martin Eichenbaum, 1994. "Factor Hoarding and the Propagation of Business Cycles Shocks," NBER Working Papers 4675, National Bureau of Economic Research, Inc.
  7. Mauro BAMBI & Omar LICANDRO, 2004. "(In)determinacy and Time-to-Build," Economics Working Papers ECO2004/17, European University Institute.
  8. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-70, November.
  9. Benhabib, Jess & Rustichini, Aldo, 1991. "Vintage capital, investment, and growth," Journal of Economic Theory, Elsevier, vol. 55(2), pages 323-339, December.
  10. Fabrice Collard & Omar Licandro & Luis A. Puch, . "The short-run dynamics of optimal growth models with delays," Working Papers 2004-05, FEDEA.
  11. Greenwood, Jeremy & Hercowitz, Zvi & Huffman, Gregory W, 1988. "Investment, Capacity Utilization, and the Real Business Cycle," American Economic Review, American Economic Association, vol. 78(3), pages 402-17, June.
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