A Closed Form Ramsey Saddle Path

Halvor Mehlum

The B.E. Journal of Macroeconomics, 2005, vol. 5, issue 1, 15

Abstract: I show that in a Ramsey growth model, where the production function is of fixed proportions type and the utility function is CRRA, the saddle path is a closed form expression. The closed form expression greatly simplifies the analysis of how the labor productivity growth, the intertemporal rate of substitution, and the discount factor affect investments and growth.

Keywords: Ramsey; growth; model (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (3)

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DOI: 10.2202/1534-6005.1267

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