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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
Contact details of provider: Web page: http://comp-econ.org/
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  1. Boucekkine, Raouf & Licandro, Omar & Puch, Luis A. & del Rio, Fernando, 2005. "Vintage capital and the dynamics of the AK model," Journal of Economic Theory, Elsevier, vol. 120(1), pages 39-72, January.
  2. Mauro BAMBI & Omar LICANDRO, 2004. "(In)determinacy and Time-to-Build," Economics Working Papers ECO2004/17, European University Institute.
  3. Jess Benhabib & Aldo Rustichini, 1990. "Vintage Capital, Investment and Growth," Discussion Papers 886, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  4. Burnside, Craig & Eichenbaum, Martin, 1996. "Factor-Hoarding and the Propagation of Business-Cycle Shocks," American Economic Review, American Economic Association, vol. 86(5), pages 1154-74, December.
  5. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-70, November.
  6. Asea, Patrick K. & Zak, Paul J., 1999. "Time-to-build and cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 23(8), pages 1155-1175, August.
  7. Luis A. Puch & Fabrice Collard & Omar Licandro, 2004. "The short-run dynamics of optimal growth models with delays," Computing in Economics and Finance 2004 117, Society for Computational Economics.
  8. repec:fda:fdaddt:2004-05 is not listed on IDEAS
  9. 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.
  10. 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.
  11. Fabrice Collard & Omar Licandro & Luis A. Puch, 2006. "Time-to-Build Echoes," Working Papers 2006-16, FEDEA.
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