A NOTE ON AN EXTENSION OF A CLASS OF SOLUTIONS TO DYNAMIC PROGRAMMING PROBLEMS ARISING IN ECONOMIC GROWTH
Keyword(s):
This note extends the findings of Benhabib and Rusticchini [Journal of Economic Dynamics and Control 18, 807–813 (1994)], who provide a class of dynamic stochastic general equilibrium (DSGE) models whose solution is characterized by a constant savings rate. We show that this class of models may be interpreted as a standard–representative agent DSGE model with costly adjustment of capital.
2016 ◽
Vol 6
(1)
◽
pp. 68
Keyword(s):
2018 ◽
Vol 32
(3)
◽
pp. 113-140
◽
2009 ◽
Vol 99
(4)
◽
pp. 1415-1450
◽