Non-convex aggregative technology and optimal economic growth

Manh Nguyen Hung (), Cuong Le Van () and Philippe Michel
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Manh Nguyen Hung: ULaval - Université Laval [Québec]
Cuong Le Van: CERMSEM - CEntre de Recherche en Mathématiques, Statistique et Économie Mathématique - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique

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Abstract: This paper examines a model of optimal growth where the agregation of two separate well behaved and concave production technologies exhibits a basic non-convexity. Multiple equilibria prevail in an intermediate range of interest rate. However, we show that the optimal paths monotonically converge to the one single appropriate equilibrium steady state.

Keywords: Non-convex agreggative technology; optimal economic growth; steady state; Nouvelle technologie; économie du développement; pays en développement; croissance optimale (search for similar items in EconPapers)
Date: 2005-12
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00197556v1
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Published in 2005

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Related works:
Journal Article: Non-convex aggregate technology and optimal economic growth (2009)
Working Paper: Non-convex Aggregate Technology and Optimal Economic Growth (2009)
Working Paper: Non-convex Aggregate Technology and Optimal Economic Growth (2009)
Working Paper: Non-convex Aggregate Technology and Optimal Economic Growth (2009)
Working Paper: Non-convex Aggregate Technology and Optimal Economic Growth (2008)
Working Paper: Non-Convex Aggregate Technology and Optimal Economic Growth (2006)
Working Paper: Non-convex aggregative technology and optimal economic growth (2005)
Working Paper: Non-convex aggregative technology and optimal economic growth (2005)
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