A closed-form solution to the Ramsey model with logistic population growth

Luca Guerrini ()

Economic Modelling, 2010, vol. 27, issue 5, 1178-1182

Abstract: In this paper, we consider the Ramsey growth model with CIES utility function, Cobb-Douglas technology, and logistic-type population growth law. We show the model to have a unique non-trivial steady-state equilibrium (a saddle point) and prove the optimal path to be non-monotonic over time. Moreover, we derive a closed-form solution for the case where capital's share is equal to the reciprocal of the intertemporal elasticity of substitution.

Keywords: Ramsey; Logistic; Closed-form; solution (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:27:y:2010:i:5:p:1178-1182

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