Electronic Resource
Berkeley, Calif.
:
Berkeley Electronic Press (now: De Gruyter)
Contributions to macroeconomics
5.2005, 1, art2
ISSN:
1534-6005
Source:
Berkeley Electronic Press Academic Journals
Topics:
Economics
Notes:
I show that in a Ramsey growth model, where the production function is of fixed proportions type and the utility function is CRRA, the saddle path is a closed form expression. The closed form expression greatly simplifies the analysis of how the labor productivity growth, the intertemporal rate of substitution, and the discount factor affect investments and growth.
Type of Medium:
Electronic Resource
URL:
http://www.bepress.com/bejm/contributions/vol5/iss1/art2
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