A NOTE ON AN EXTENSION OF A CLASS OF SOLUTIONS TO DYNAMIC PROGRAMMING PROBLEMS ARISING IN ECONOMIC GROWTH

Jürgen Antony and Alfred Maussner ()

Macroeconomic Dynamics, 2012, vol. 16, issue 3, 472-476

Abstract: This note extends the findings of Benhabib and Rusticchini [Journal of Economic Dynamics and Control 18, 807–813 (1994)], who provide a class of dynamic stochastic general equilibrium (DSGE) models whose solution is characterized by a constant savings rate. We show that this class of models may be interpreted as a standard–representative agent DSGE model with costly adjustment of capital.

Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:cup:macdyn:v:16:y:2012:i:03:p:472-476_00

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