par Brida, Juan Gabriel;Cayssials, Gastón;Pereyra Barreiro, Juan Sebastian 
Référence Dynamics of Continuous, Discrete and Impulsive Systems. Series B: Applications and Algorithms, 22, 2, page (97-115)
Publication Publié, 2015
Référence Dynamics of Continuous, Discrete and Impulsive Systems. Series B: Applications and Algorithms, 22, 2, page (97-115)
Publication Publié, 2015
Article révisé par les pairs
| Résumé : | This paper extends the Ramsey-Cass-Koopmans growth model of optimal capital accumulation in discrete time by introducing a generic population growth law that satisfies the following properties: population is strictly increasing and bounded, and the population growth rate is decreasing to zero as time tends to infinity. We show that the optimization problem admits a unique solution that can be characterized by the Euler equation. A closed-form solution of the model is presented for the case of a Cobb-Douglas production function and a logarithmic utility function. In contrast to the original model, the solution is not always monotone. |
