A further note on a new class of solutions to dynamic programming problems arising in economic growth

Jürgen Antony and Alfred Maussner ()

No 297, Discussion Paper Series from Universitaet Augsburg, Institute for Economics

Abstract: This note extends the finding of Benhabib and Rusticchini (1994) who provide a class of SDGE models, whose solution is characterized by a constant savings rate. We show that this class of models may be interpreted as a standard representative agent SDGE model with costly adjustment of capital and provides a solution to the traditional discrete time Ramsey problem.

Keywords: capital and labor substitution; dynamic programming; growth; numerical solutions of SDGE models (search for similar items in EconPapers)
JEL-codes: C61 C68 E21 O4 (search for similar items in EconPapers)
Date: 2008-01
New Economics Papers: this item is included in nep-cmp, nep-dge and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:aug:augsbe:0297

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