Chichilnisky, Graciela and Gruenwald, Paul F. (1994): Existence of an optimal growth path with endogenous technical change. Published in: Economic Letters , Vol. 48, (1995): pp. 433-439.
Download (1MB) | Preview
We prove the existence of an optimal growth path in an economy where goods that are not consumed are wither invested in next period or in R&D with overall non-convex production possibilities, ising results of non-linear functional analysis in weighted Lp spaces of Chichilnisky (Journal of Optimication Theory and Applications, 1977, 61, no. 2. 504-520) and (Journal of Mathematical Economics, 1981, 8, 1-14).
|Item Type:||MPRA Paper|
|Original Title:||Existence of an optimal growth path with endogenous technical change|
|Keywords:||endogenous growth; technical change; increasing returns|
|Subjects:||O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development; Intellectual Property Rights
O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity
|Depositing User:||Graciela Chichilnisky|
|Date Deposited:||23. Apr 2008 07:55|
|Last Modified:||14. Feb 2013 10:22|
G. CHICHILNISKY, 1977, Nonlinear functional analysis and optimal economic growth, J. of Optimization Theory and App. 61, no. 2 504-520.
G. CHICHILNISKY, 1981, Existence of optimal savings policies with imperfect information and non-convexities, J. of Math. Econ. 8, 1-14.
G. CHICHILNISKY AND P.J. KALMAN, 1980, An application of functional analysis to models of efficient allocation of resources over an infinite time horizon, J. of Opt. Theory and APp. 30, no. 1, 19-32.
GRUENWALD, P.F., 1992, Growth and accumulation in a model with endogenous technical change, Ph.D. Dissertaion, COlumbia University, New York, NY.
KNOPP, K. 1956, Infinite sequences and series (Dover, New York).
VON WEISACKER, C.C., 1965, Existence of optimal programmes of accumulation for an infinite time horizon, Review of Econ. Studies 32, 85-104.
WEITZMAN, M., 1970, Optimal growth with scale economics in the creation of overhead capital, Review of Economic Studies XXVII, no. 4, 112, 555-570.