Monotonicity and continuity of the critical capital stock in the Dechert-Nishimura model

Ken Ichi Akao, Takashi Kamihigashi, Kazuo Nishimura

研究成果: Article査読

7 被引用数 (Scopus)

抄録

We show that the critical capital stock of the Dechert and Nishimura (1983) model is a decreasing and continuous function of the discount factor. We also show that the critical capital stock merges with a nonzero steady state as the discount factor decreases to a certain boundary value, and that the critical capital stock converges to the minimum sustainable capital stock as the discount factor increases to another boundary value.

本文言語English
ページ(範囲)677-682
ページ数6
ジャーナルJournal of Mathematical Economics
47
6
DOI
出版ステータスPublished - 2011 12

ASJC Scopus subject areas

  • 経済学、計量経済学
  • 応用数学

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