haku: @author Wang, P. / yhteensä: 18
viite: 12 / 18
| Tekijä: | Palivos, T. Wang, P. Zhang, J. |
| Otsikko: | On the existence of balanced growth equilibrium |
| Lehti: | International Economic Review
1997 : FEB, VOL. 38:1, p. 205-224 |
| Asiasana: | ECONOMICS GROWTH INTERNATIONAL |
| Kieli: | eng |
| Tiivistelmä: | The authors characterize the class of dynamic models that allow for the most commonly used types of sustained economic growth (balanced and asymptotically balanced). The authors show that, under a constant returns to scale technology, (asymptotically) constant discount rate and (asymptotically) constant elasticity of marginal felicity are not only necessary but also sufficient conditions for the existence of an a(n) (asymptotically) balanced growth equilibrium path. |
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