Non-Convex Aggregate Technology and Optimal Economic Growth

N.M. Hung, Cuong Le van and Philippe Michel

Cahiers de recherche from Université Laval - Département d'économique

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.

Date: 2006
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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 aggregative technology and optimal economic growth (2005)
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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