On the Optimal Stationary State for the Quasi-Stationary Model of Capital Accumulation under Uncertainty: The Characterization of the Discounted Golden-Rule State by Prices, 不確実性下の資本蓄積の準定常的モデルにおける最適定常状態について：割引黄金律状態の価格による特徴付け

Shin-ichi Takekuma

Hitotsubashi Journal of Economics, 2008, vol. 49, issue 1, 23-33

Abstract: A general quasi-stationary model of capital accumulation under uncertainty is considered and the discounted golden-rule state is characterized by prices. A support price for the discounted golden-rule state, which is a finitely additive vector-valued measure, is proved to exist. By using the support price, the discounted golden-rule state is shown to be an optimal stationary state. Also, under the assumption of monotonicity, support prices are proved to be integrable functions.

Keywords: Optimal stationary state; Quasi-stationary model; Uncertainty; Support price (search for similar items in EconPapers)
JEL-codes: C02 C61 D80 D90 O41 (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:hit:hitjec:v:49:y:2008:i:1:p:23-33

DOI: 10.15057/15883

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