Monotonicity and continuity of the critical capital stock in the Dechert–Nishimura model

Ken-Ichi Akao, Takashi Kamihigashi and Kazuo Nishimura

Journal of Mathematical Economics, 2011, vol. 47, issue 6, 677-682

Abstract: We show that the critical capital stock of the Dechert and Nishimura (1983) model is a decreasing and continuous function of the discount factor. We also show that the critical capital stock merges with a nonzero steady state as the discount factor decreases to a certain boundary value, and that the critical capital stock converges to the minimum sustainable capital stock as the discount factor increases to another boundary value.

Date: 2011
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Citations: View citations in EconPapers (18)

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Working Paper: Monotonicity and Continuity of the Critical Capital Stock in the Dechert-Nishimura Model (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:47:y:2011:i:6:p:677-682

DOI: 10.1016/j.jmateco.2011.08.005

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