In this paper we study an endogenous growth model where investments are (generically) distributed over multi-period flexible projects leading to new capital once completed. Recently developed techniques in dynamic programming are adapted and used to unveil the global dynamics of this model. Based on this analytical ground, several numerical exercises are performed to show the quantitative relevance of the analytical findings with an emphasis on the relation between project features and economic growth and speed of convergence toward the balanced growth path. © 2015 The Author(s)

Bambi, M., Di Girolami, C., Federico, S., Gozzi, F. (2017). Generically distributed investments on flexible projects and endogenous growth. ECONOMIC THEORY, 63(2), 521-558 [10.1007/s00199-015-0946-z].

Generically distributed investments on flexible projects and endogenous growth

FEDERICO, SALVATORE;
2017-01-01

Abstract

In this paper we study an endogenous growth model where investments are (generically) distributed over multi-period flexible projects leading to new capital once completed. Recently developed techniques in dynamic programming are adapted and used to unveil the global dynamics of this model. Based on this analytical ground, several numerical exercises are performed to show the quantitative relevance of the analytical findings with an emphasis on the relation between project features and economic growth and speed of convergence toward the balanced growth path. © 2015 The Author(s)
2017
Bambi, M., Di Girolami, C., Federico, S., Gozzi, F. (2017). Generically distributed investments on flexible projects and endogenous growth. ECONOMIC THEORY, 63(2), 521-558 [10.1007/s00199-015-0946-z].
File in questo prodotto:
Non ci sono file associati a questo prodotto.

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11365/1003443