Renewable Resources in an Overlapping Generations Economy without Capital
نویسندگان
چکیده
منابع مشابه
Renewable Resources in an Overlapping Generations Economy without Capital
We incorporate a renewable resource into an overlapping generations model without capital and with quasi-linear preferences. Besides being an input for production the resource serves as a store of value. We characterize the dynamics, efficiency and stability of the steady state equilibria. The stability properties are sensitive to the type of the resource growth. For constant growth there is on...
متن کاملSaddles, Indeterminacy and Bifurcations in an Overlapping Generations Economy with a Renewable Resource****
We incorporate a renewable resource into an overlapping generations model with standard, well-behaved utility and constant returns production functions. Besides being a factor of production the resource serves as a store of value. We characterize dynamics, efficiency and stability of steady state equilibria, and show that their nature depends on the size of the intertemporal elasticity of subst...
متن کاملThe dynamics of capital accumulation in an overlapping generations model
This paper studies capital accumulation in a slightly altered, explicit OLG model. The fundamental difference with the standard model lies in the initial conditions. If a portion of the initial allocation of the capital stock is not assigned to retirees, the framework allowing for a genuine accumulation of capital is provided. Dynamic aspects of the resulting model are analyzed, including dynam...
متن کاملA Stochastic Overlapping Generations Economy with Inheritance
An overlapping generations model of an exchange economy is considered, with individuals having a finite expected life-span. As the model is designed to be a fully playable game, conditions concerning birth, death, inheritance and bequests are fully specified.
متن کاملRenewable Resources , Capital Accumulation , and Economic Growth
This paper proposes a dynamic economic model with physical capital and renewable resources. Different from most of the neoclassical growth models with renewable resources which are based on microeconomic foundation and neglect physical capital accumulation, this study proposes a growth model with dynamics of renewable resources and physical capital accumulation. The model is a synthesis of the ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2000
ISSN: 1556-5068
DOI: 10.2139/ssrn.243910