An endogenous growth model with concave consumption functions
Kirill Borissov () and
No 276, Computing in Economics and Finance 2004 from Society for Computational Economics
In this paper we combine the assumption that the consumption function is concave with an AK production function. We show that the set of equilibrium steady-state growth rates is an interval. Then we note that when they exist, unegalitarian equilibria are characterized by higher rates of growth than egalitarian ones and, moreover, higher equilibrium growth rates correspond to higher levels of inequality. Also we prove that each path converges either to an egalitarian or to one of unegalitarian equilibria. To what equilibrium a path converges depends on the initial distribution of wealth
Keywords: Economic growth; Distribution (search for similar items in EconPapers)
JEL-codes: E21 O41 (search for similar items in EconPapers)
References: Add references at CitEc
Citations: Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:sce:scecf4:276
Access Statistics for this paper
More papers in Computing in Economics and Finance 2004 from Society for Computational Economics Contact information at EDIRC.
Bibliographic data for series maintained by Christopher F. Baum ().