Endogenous discounting via wealth, Twin-Peaks and the role of technology

Ingmar Schumacher

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Abstract: We endogenize the discount rate via wealth and provide evidence that wealth affects the discount rate negatively. We give a necessary and sufficient condition for endogenous discounting to lead to the Twin-Peaks of economic growth and show that improvements in technology help avoid them.

Keywords: multiple equilibria; endogenous discounting; Twin-Peaks of economic growth; multiple equilibria. (search for similar items in EconPapers)
Date: 2009-01
Note: View the original document on HAL open archive server: https://hal.science/hal-00356233
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Citations: View citations in EconPapers (41)

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Related works:
Journal Article: Endogenous discounting via wealth, twin-peaks and the role of technology (2009)
Working Paper: Endogenous discounting via wealth, twin-peaks and the role of technology (2006)
Working Paper: Endogenous Discounting via Wealth, Twin-Peaks and the Role of Technology (2006)
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