| Author: | Dolmas, J. |
| Title: | Endogenous growth in multisector Ramsey models |
| Journal: | International Economic Review
1996 : MAY, VOL. 37:2, p. 403-422 |
| Index terms: | MODELS GROWTH |
| Language: | eng |
| Abstract: | In this paper, the author gives sufficient conditions for the existence of endogenously growing optimal paths in a general multisector ramsey model of optimal capital accumulation. The key assumption involves the existence of a positive vector of capital stocks which admits strictly positive consumption and expansibility in inverse proportion to the utility discount factor. If the technology set contains the ray through such a point, in addition to standard convexity and interiority assumptions, then optimal paths grow without bound from any strictly positive initial stocks. |
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