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At Last! An Explicit Solution for the Ramsey Saddle Path

Author

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  • Halvor Mehlum

    (University of Oslo)

Abstract

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

Suggested Citation

  • Halvor Mehlum, 2002. "At Last! An Explicit Solution for the Ramsey Saddle Path," GE, Growth, Math methods 0210005, EconWPA.
  • Handle: RePEc:wpa:wuwpge:0210005
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    References listed on IDEAS

    as
    1. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 70(1), pages 65-94.
    2. Robert J. Barro & Paul Romer, 1993. "Economic Growth," NBER Books, National Bureau of Economic Research, Inc, number barr93-1.
      • Robert J. Barro & Paul M. Romer, 1991. "Economic Growth," NBER Books, National Bureau of Economic Research, Inc, number barr91-1.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Ramsey growth model;

    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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