Generically distributed investments on flexible projects and endogenous growth

Mauro Bambi (), Cristina Girolami, Salvatore Federico () and Fausto Gozzi
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Cristina Girolami: Università di Pescara

Economic Theory, 2017, vol. 63, issue 2, No 7, 558 pages

Abstract: Abstract In this paper we study an endogenous growth model where investments are (generically) distributed over multi-period flexible projects leading to new capital once completed. Recently developed techniques in dynamic programming are adapted and used to unveil the global dynamics of this model. Based on this analytical ground, several numerical exercises are performed to show the quantitative relevance of the analytical findings with an emphasis on the relation between project features and economic growth and speed of convergence toward the balanced growth path.

Keywords: Endogenous growth; Investment projects; Distributed delays; Optimal control; Dynamic programming; Infinite dimensional problems (search for similar items in EconPapers)
JEL-codes: E32 O40 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (2)

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Working Paper: Generically distributed investments on flexible projects and endogenous growth (2015)
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DOI: 10.1007/s00199-015-0946-z

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