A multidimensional, nonconvex model of optimal growth
Résumé
Using the concept of net gain of investment, we study a multidimensional economy and we prove the convergence to its set of steady states. Our approach differs from a standard dynamic programming based on convexity or super-modularity. We find that preferences are key to shape the economy in the long run.
Origine | Fichiers produits par l'(les) auteur(s) |
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