Stability under learning: the neo-classical growth problem

Orlando Gomes

Economics Bulletin, 2009, vol. 29, issue 4, 3186-3193

Abstract: A local stability condition for the standard neo-classical Ramsey growth model is derived. The proposed setting is deterministic, defined in discrete time and expectations are formed through adaptive learning. The stability condition imposes an upper bound on the long-term value of the gain sequence.

Keywords: Neo-classical growth; Adaptive learning; Stability (search for similar items in EconPapers)
JEL-codes: C6 O4 (search for similar items in EconPapers)
Date: 2009-12-23
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.accessecon.com/Pubs/EB/2009/Volume29/EB-09-V29-I4-P308.pdf (application/pdf)

Related works:
Working Paper: Stability under Learning: the Neo-Classical Growth Problem (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-09-00718

Access Statistics for this article

More articles in Economics Bulletin from AccessEcon
Bibliographic data for series maintained by John P. Conley ().