A closed-form competitive equilibrium for the deterministic neoclassical growth model

Sergio Salas ()
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Sergio Salas: University of Chicago

Economics Bulletin, 2026, vol. 46, issue 3, 973 - 981

Abstract: I revisit the deterministic neoclassical growth model and derive a closed-form competitive equilibrium under two standard assumptions: log utility and full capital depreciation. Working directly with the decentralized economy, I provide explicit expressions for allocations, prices, and the household's policy rule. The exposition identifies the role of each assumption in delivering the closed form and shows what fails when either is relaxed

Keywords: Dynamic Programming; Neoclassical Growth Model; Closed-Form Solutions (search for similar items in EconPapers)
JEL-codes: E1 E2 (search for similar items in EconPapers)
Date: 2026-09-30
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