IRIS - Institutional Research Information System
IRIS è il sistema di gestione integrata dei dati della ricerca adottato dalla Luiss Guido Carli. Il Catalogo dei prodotti della ricerca della Luiss raccoglie e rende disponibile, dove possibile nel rispetto del diritto d'autore, la produzione scientifica dei docenti e ricercatori dell'Ateneo. Il Catalogo alimenta inoltre i siti docenti del MIUR.
EnglishIn this paper, the dynamic programming approach is exploited in order to identify the closed loop policy function, and the consumption smoothing mechanism in an endogenous growth model with time to build, linear technology and irreversibility constraint in investment. Moreover, the link among the time to build parameter, the real interest rate, and the magnitude of the smoothing effect is deeply investigated and compared with what happens in a vintage capital model characterized by the same technology and utility function. Finally, we have analyzed the effect of time to build on the speed of convergence of the main aggregate variables.
Optimal policy and consumption smoothing effects in the time-to-build AK model / M., Bambi; G., Fabbri; Gozzi, Fausto. - In: ECONOMIC THEORY. - ISSN 0938-2259. - 3:50(2012), pp. 635-669. [10.1007/s00199-010-0577-3]
| Titolo: | Optimal policy and consumption smoothing effects in the time-to-build AK model | |
| Autori: | ||
| Data di pubblicazione: | 2012 | |
| Rivista: | ||
| Citazione: | Optimal policy and consumption smoothing effects in the time-to-build AK model / M., Bambi; G., Fabbri; Gozzi, Fausto. - In: ECONOMIC THEORY. - ISSN 0938-2259. - 3:50(2012), pp. 635-669. [10.1007/s00199-010-0577-3] | |
| Abstract: | In this paper, the dynamic programming approach is exploited in order to identify the closed loop policy function, and the consumption smoothing mechanism in an endogenous growth model with time to build, linear technology and irreversibility constraint in investment. Moreover, the link among the time to build parameter, the real interest rate, and the magnitude of the smoothing effect is deeply investigated and compared with what happens in a vintage capital model characterized by the same technology and utility function. Finally, we have analyzed the effect of time to build on the speed of convergence of the main aggregate variables. | |
| Handle: | http://hdl.handle.net/11385/5419 | |
| Appare nelle tipologie: | 01.1 - Articolo su rivista (Article) |
File in questo prodotto:
Pubblicazioni consigliate
Copyright © 2022