Capital accumulation in a model of growth and creative destruction

Klaus Wälde

No 139, Discussion Paper / Institute for Empirical Macroeconomics from Federal Reserve Bank of Minneapolis

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: Capital (search for similar items in EconPapers)
Date: 2001
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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 (2002)
Working Paper: Capital accumulation in a model of growth and creative destruction (2001)
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