Generically distributed investments on flexible projects and endogenous growth

Mauro Bambi (), Cristina Di Girolami, Salvatore Federico () and Fausto Gozzi
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Cristina Di Girolami: Università di Pescara, Dipartimento di Economia Aziendale, Pescara, Italy; Département de Mathèmatiques, Avenue Olivier Messiaen 72085 Le Mans Cedex 9, France

No 2015-04, Working Papers - Mathematical Economics from Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa

Abstract: In this paper we study an endogenous growth model where investments are (generically) distributed over multi-period flexible projects leading to new capital once completed. Recently developed techniques in dynamic programming are adapted and used to unveil the global dynamics of this model. Based on this analytical ground, several numerical exercises are performed to show the quantitative relevance of the analytical findings with an emphasis on the relation between project features and economic growth and speed of convergence toward the balanced growth path.

Keywords: Endogenous growth; investment projects; distributed delays; optimal control; dynamic programming; infinite dimensional problems. (search for similar items in EconPapers)
JEL-codes: E22 E32 O40 (search for similar items in EconPapers)
Pages: 56 pages
Date: 2015-10
New Economics Papers: this item is included in nep-dge, nep-gro, nep-mac and nep-ppm
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Journal Article: Generically distributed investments on flexible projects and endogenous growth (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:flo:wpaper:2015-04

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