Capital accumulation in a model of growth and creative destruction

Klaus Waelde
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Klaus Waelde: University o Dresden - Germany
Authors registered in the RePEc Author Service: Klaus Wälde

No 2002038, LIDAM Discussion Papers IRES from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: Capital accumulation and creative destruction is modeled together with risk-averse households. The novel aspect - risk-averse households - allows to use well-known models not only for analyzing long-run growth as in the literature but also short-run fluctuations. The model remains analytically tractable due to a very convenient property of the household’s investment decision in this stochastic continuous-time setup.

Keywords: Creative destruction; Risk averse households; Capital accumulation; Endogenous fluctuations and growth (search for similar items in EconPapers)
JEL-codes: E32 O31 O41 (search for similar items in EconPapers)
Pages: 19
Date: 2002-10-01
New Economics Papers: this item is included in nep-dev and nep-dge
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Related works:
Working Paper: Capital accumulation in a model of growth and creative destruction (2003)
Working Paper: Capital accumulation in a model of growth and creative destruction (2001)
Working Paper: Capital accumulation in a model of growth and creative destruction (2001)
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