Optimal growth when consumption takes time

Thai Ha‐Huy, Cuong Le Van and Thi‐Do‐Hanh Nguyen
Authors registered in the RePEc Author Service: Thai Ha-Huy

Journal of Public Economic Theory, 2020, vol. 22, issue 5, 1442-1461

Abstract: This article analyzes a one‐sector growth model where the consumption takes time. When the consumption takes time, the consumption set is compact and we meet satiety. However, we prove that dynamic constraints are binding. This result is crucial to prove that, under well‐known assumptions in macroeconomic dynamic programming, the optimal path is monotonic and always converges to a unique nontrivial steady state as in the case where consumption is timeless.

Date: 2020
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Citations: View citations in EconPapers (1)

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https://doi.org/10.1111/jpet.12467

Related works:
Working Paper: Optimal growth when consumption takes time (2023)
Working Paper: Optimal growth when consumption takes time (2023)
Working Paper: Optimal growth when consumption takes time (2020)
Working Paper: Optimal growth when consumption takes time (2020)
Working Paper: Optimal growth when consumption takes time (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:bla:jpbect:v:22:y:2020:i:5:p:1442-1461

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