Balanced growth path and optimal saving rate
Productivity Growth and the U.S. Saving Rate
... productivity growth, both of which enrich the empirical analysis in distinctive ...a balanced-growth path, the time paths of consumption and income are typically determined by a unique ...
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Habit formation and multiplicity of balanced growth path: a comment
... Abstract Chen (Journal of Money, Credit and Banking [2007] 25-48) studies the AK model where the utility function includes multiplicative habits in consumption and argues that the model has multiple balanced ...
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Inflation and balanced-path growth with alternative payment mechanisms
... inflation rate goes up, and leisure is relied upon increasingly less as a substitution ...marginal rate of substitution between goods and leisure is alleviated by the consumer’s use of credit, and so ...
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Inflation and Balanced-Path Growth with Alternative Payment Mechanisms
... inflation rate goes up, and leisure is relied upon increasingly less as a substitution ...marginal rate of substitution between goods and leisure is alleviated by the consumer’s use of credit, and so ...
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The Time Path of the Saving Rate: Hyperbolic Discounting and Short Term Planning
... discount rate, then, is higher than ...discount rate to be constant, they also consider the time t 0 - wage and interest rates to remain constant during their short planning horizon at their t 0 ...this ...
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Saving and growth under borrowing constraints explaining the "high saving rate" puzzle
... higher-than-steady-state saving rate and a higher-than-steady-state growth rate, regardless of borrowing ...between saving and growth so that the borrowing-constrained economy ...
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Balanced growth path solutions of a Boltzmann mean field game model for knowledge growth
... exogenous growth models, which are based on the assumption that economic prosperity is primarily determined by external rather than internal ...endogenous growth model proposed by Lucas and Moll, see ...
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Population Ageing In New Zealand: Implications for Living Standards and the Optimal Rate of Saving
... is optimal for savings to ...is optimal for savings to fall ...force growth brought about by lower birth rates. Slower labour force growth means that fewer savings are required to equip new ...
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Increasing Returns in a Model With Creative and Physical Capital: Does a Balanced Growth Path Exist?
... by letting the fraction and the savings rate be endogenous and potentially time varying. Second, it would also be instructive to study the effects that increasing returns to scale have on an aggregate economy of ...
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Increasing Returns in a Model With Creative and Physical Capital: Does a Balanced Growth Path Exist?
... economic growth when the underlying creative capital using production function displays increasing returns to ...economic growth in a region that produces a final consumption good with creative and physical ...
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The Japanese Saving Rate
... neoclassical growth model with an infinitely lived representative household facing complete markets, and cal- ibrate the economy to Japanese data provided by Hayashi and Edward ...population growth ...
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Japanese Saving Rate
... observed saving behavior between 1961 and 1998?’ Our approach is in line with the recent use of the one-sector growth model to explain ‘Great ...time path of Japanese saving ...Japanese ...
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Japanese Saving Rate
... a balanced growth path, after specializing the de…nition of recursive competitive equilibrium and numerically solving the two-dimensional …xed point ...interest rate and the lump-sum transfer ...
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Japanese Saving Rate
... time path of the saving rate in Japan would have looked very similar to that of the ...The growth miracle experienced by Japan after World War II and the rapid growth in TFP have been ...
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Application of Selective and Optimal Control to Achieve Turnpike Growth Rate
... to optimal ones. Moreover, optimal proportions of gross output are considered to be the proportions of the turnpike economic ...becomes balanced. Optimal control of a developing microeconomic ...
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Saving Rate Dynamics in the Neoclassical Growth Model – Hyperbolic Discounting and Observational Equivalence
... transitional path of the saving rate both in OECD countries and in a larger cross-section of ...the saving rate may exhibit a non-monotonic transition path in a neoclassical ...
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Saving Rate Dynamics in the Neoclassical Growth Model – Hyperbolic Discounting and Observational Equivalence
... the saving rate may exhibit a non-monotonic transition path in a neoclassical growth model with CES ...transition path of the saving ...pure rate of time preference ...
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Unemployment and Income-Distribution Effects of Economic Growth: A Minimum-Wage Analysis with Optimal Saving
... unemployment rate may seem to be on the high side—according to the ...average rate in January 2016 for people with a high-school degree or less was only ...participation rate of this group (55.4%) ...
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The Optimal Path of the Chinese Renminbi
... exchange rate of Stein ...domestic growth which seems particularly important in a country that has to deal with large numbers of unemployed ...exchange rate of ...
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Productivity Growth and the Future of the U.S. Saving Rate
... declining saving rate in the ...declining saving rate through demographic transition (age affects) alone, and in none of the studies reviewed by Parker (2000) demographic transition stands out ...
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