Non-convex aggregative technology and optimal economic growth

Manh Hung Nguyen (), Cuong Le van () and Philippe Michel
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Manh Hung Nguyen: Université de Laval

Cahiers de la Maison des Sciences Economiques from Université Panthéon-Sorbonne (Paris 1)

Abstract: This paper examines a model of optimal growth where the aggregation of two separate well behaved and concave production technologies exhibits a basic non-convexity. Multiple equilibria prevail in an intermediate range of interest rate. However, we show that the optimal paths monotonically converge to the one single appropriate equilibrium steady state.

Keywords: Non-convex aggregative technology; optimal economic growth; steady state. (search for similar items in EconPapers)
JEL-codes: O22 L11 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dev
Date: 2005-12
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Related works:
Working Paper: Non-convex Aggregate Technology and Optimal Economic Growth (2008)
Working Paper: Non-Convex Aggregate Technology and Optimal Economic Growth (2006)
Working Paper: Non-convex aggregative technology and optimal economic growth (2005)
Working Paper: Non-convex Aggregate Technology and Optimal Economic Growth (2008)
Journal Article: Non-convex aggregate technology and optimal economic growth (2009)
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Persistent link: http://EconPapers.repec.org/RePEc:mse:wpsorb:b05095

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