Periodic Solutions of the One-sector Growth Model: The Role of Income Effects

Kazumichi Iwasa and Gerhard Sorger
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Kazumichi Iwasa: Research Institute for Economics & Business Administration (RIEB), Kobe University, Japan

No DP2018-10, Discussion Paper Series from Research Institute for Economics & Business Administration, Kobe University

Abstract: The discrete-time version of the neoclassical one-sector growth model with elastic labor supply is considered. It is shown that this model can have periodic solutions only if leisure is an inferior good.

Keywords: Optimal growth; Elastic labor supply; Periodic solutions; Inferiority of leisure (search for similar items in EconPapers)
JEL-codes: C61 O41 (search for similar items in EconPapers)
Pages: 17 pages
Date: 2018-03
New Economics Papers: this item is included in nep-gro
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Citations: View citations in EconPapers (3)

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https://www.rieb.kobe-u.ac.jp/academic/ra/dp/English/DP2018-10.pdf First version, 2018 (application/pdf)

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Journal Article: Periodic solutions of the one-sector growth model: The role of income effects (2018)
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