Article ID Journal Published Year Pages File Type
5099064 Journal of Economic Dynamics and Control 2009 9 Pages PDF
Abstract
The present paper shows that the savings motive critically affects the size and sign of scale effects in standard endogenous growth models. If the bequest motive dominates, the scale effect is positive. If the life-cycle motive dominates, the scale effect is ambiguous and may even be negative.
Keywords
Related Topics
Physical Sciences and Engineering Mathematics Control and Optimization
Preview
Life-cycle savings, bequest, and a diminishing impact of scale on growth
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