کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
965985 1479264 2015 12 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
A characterization of Ramsey equilibrium in a model with limited borrowing
ترجمه فارسی عنوان
تعریف تعادل رامزی در یک مدل با وام محدود
کلمات کلیدی
همگرایی، وجود داشتن، رشد عامل ناهمگن، قرض گرفتن محدود، اموال تورپیک،
موضوعات مرتبط
مهندسی و علوم پایه ریاضیات ریاضیات کاربردی
چکیده انگلیسی
This paper considers a one-sector economic growth model with several infinitely-lived heterogeneous households, who differ both in the discount factors as well as preferences over consumption. Unlike the extreme form of borrowing constraint observed in the classical Ramsey model, recently surveyed in Becker (2006), we allow limited borrowing by the households and prove the existence of a perfect foresight equilibrium. We also show that irrespective of production technology employed by the firms, the capital stock sequence converges to the steady state stock and from some time onward all impatient households are in the maximum borrowing state, whereas the most patient household owns entire capital stock and the debts of all other households.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Mathematical Economics - Volume 56, January 2015, Pages 67-78
نویسندگان
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