A note on Ramsey's conjecture with AK technology

Shinya Tsukahara ()
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Shinya Tsukahara: Kyoto University

Economics Bulletin, 2016, vol. 36, issue 1, 165-172

Abstract: We consider an endogenously growing economy with heterogeneous households, each of which prefers capital　(or wealth) as well as consumption. Regarding Ramsey's conjecture on the long-run distribution of capital among households, we present some extended versions of the result that was shown by Nakamura (2014, “On Ramsey's Conjecture with AK Technology,†Economics Bulletin, 34(2), pp. 875-884). One of our results is that if aggregate capital productivity is low, the most impatient household could eventually own the entire capital (not “almost all†the capital) of the economy.

Keywords: Heterogeneous households; Wealth preference; Patience; Wealth distribution; Endogenous growth (search for similar items in EconPapers)
JEL-codes: D3 E2 (search for similar items in EconPapers)
Date: 2016-02-11
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Citations: View citations in EconPapers (2)

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