Identification and testable implications of the Ramsey–Cass–Koopmans model

Yuhki Hosoya

Journal of Mathematical Economics, 2014, vol. 50, issue C, 63-68

Abstract: This paper aims to provide a method for calculating the utility function and discount rate of the discrete-time Ramsey–Cass–Koopmans model from the policy and production functions. In contrast to similar works, our method ensures the uniqueness of the utility function up to positive affine transformations. Further, we provide a similar result in a stochastic model.

Keywords: Ramsey–Cass–Koopmans model; Dynamic programming; Utility function; Infinite product; Stochastic shock (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:50:y:2014:i:c:p:63-68

DOI: 10.1016/j.jmateco.2013.12.001

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