Optimal growth when tastes are inherited Croix, David de la; Michel, Philippe

User activity

Share to:
View the summary of this work
Authors
Croix, David de la ; Michel, Philippe
Appears In
Journal of Economic Dynamics & Control
Subjects
Externalities (Economics) -- Models; Economic development -- Models; Economic stabilization -- Models
Audience
Academic
Summary
The issue of optimal growth when standard-of-living aspirations are inherited was investigated using an econometric framework that treats utility as non-separable across generations. The model includes an externality that is not taken into consideration by altruistic parents but which may play a role in endogenous fluctuation in competitive economies. Results showed that the condition for the optimal solution is stable in the saddle-point sense and that this optimal solution may exhibit damped oscillations even when the utility of future generations is not discounted.
Bookmark
http://trove.nla.gov.au/work/3826
Work ID
3826

3 editions of this work

Find a specific edition
Thumbnail [View as table] [View as grid] Title, Author, Edition Date Language Format Libraries

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this work

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this work

Add a comment


Show comments and reviews from Amazon users