Non-constant discounting and Ak-type growth models

This paper analyzes an Ak-type endogenous growth model under non-constant discounting, assuming both naïve and sophisticated consumers. For both types of consumers an isoelastic utility with an intertemporal elasticity below one guarantees observational equivalence under exponential and non-constant...

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Veröffentlicht in:	Economics letters 2015-06, Vol.131, p.54-58
Hauptverfasser:	Cabo, Francisco, Martín-Herrán, Guiomar, Martínez-García, María Pilar
Format:	Artikel
Sprache:	eng
Schlagworte:	Consumers Economic growth Economic models Economic theory Endogenous growth Growth models Growth rates Non-constant discounting Productivity Studies Time-consistent and time-inconsistent solutions
Online-Zugang:	Volltext
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