Effects of Wariness on Economic Growth in Overlapping Generations Models - Archive ouverte HAL Accéder directement au contenu
Pré-Publication, Document De Travail (Working Paper) Année : 2023

Effects of Wariness on Economic Growth in Overlapping Generations Models

Résumé

We introduce the notion of wariness in overlapping generations models and explore its effects on economic growth. In an exogenous growth model, under standard assumptions, we prove that the capital stock converges to a steady state. We then explore conditions under which this steady state is increasing (or decreasing) in the wariness level. We also provide a necessary and sufficient condition for the dynamic efficiency of the intertemporal equilibrium. In an endogenous growth model à la Romer (1986), we show that the growth rate of capital stock per capita in the economy with wariness is lower (higher, respectively) than that in the economy without wariness if and only if the capital return is high (low, respectively).
Fichier principal
Vignette du fichier
PP_WG_V1.pdf (528.78 Ko) Télécharger le fichier
Origine : Fichiers produits par l'(les) auteur(s)

Dates et versions

hal-04453981 , version 1 (12-02-2024)

Identifiants

  • HAL Id : hal-04453981 , version 1

Citer

Hai-Ha Pham, Ngoc-Sang Pham. Effects of Wariness on Economic Growth in Overlapping Generations Models. 2024. ⟨hal-04453981⟩

Collections

TDS-MACS
14 Consultations
16 Téléchargements

Partager

Gmail Facebook X LinkedIn More