Capital accumulation in a model of growth and creative destruction

Klaus Walde
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Klaus Walde: University of Dresden

No 216, Royal Economic Society Annual Conference 2003 from Royal Economic Society

Abstract: Capital accumulation and creative destruction is modeled together with risk-averse households. The novel aspect - risk-averse households - allows to use well-known models not only for analyzing long-run growth as in the literature but also short-run fluctuations. The model remains analytically tractable due to a very convenient property of the householdÕs investment decision in this stochastic continuous-time setup. Classification-E32, O41, O31

Keywords: creative destruction; risk averse households; capital accumulation; endogenous fluctuations and growth (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dev, nep-dge and nep-mfd
Date: 2003-06-04

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