Strategic interactions in a one-sector growth model

We study the effect of dynamic and investment externalities in a one-sector growth model. In our model, two agents interact strategically in the utilization of capital for consumption, savings, and investment in technical progress. We consider two types of investment choices: complements and substit...

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Main Authors: FESSELMEYER, Eric, MIRMAN, Leonard J., SANTUGINI, Marc
格式: text
語言:English
出版: Institutional Knowledge at Singapore Management University 2016
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在線閱讀:https://ink.library.smu.edu.sg/cis_research/7
https://ink.library.smu.edu.sg/context/cis_research/article/1006/viewcontent/SSRN_id2298824.pdf
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總結:We study the effect of dynamic and investment externalities in a one-sector growth model. In our model, two agents interact strategically in the utilization of capital for consumption, savings, and investment in technical progress. We consider two types of investment choices: complements and substitutes. For each case, we derive the equilibrium and provide the corresponding stationary distribution. We then compare the equilibrium with the social planner's solution.