A Three-period Samuelson-Diamond Growth

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A Three-period Samuelson-Diamond Growth

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dc.contributor.author Blomgren-Hansen, Niels en_US
dc.date.accessioned 2009-02-04T10:27:46Z
dc.date.available 2009-02-04T10:27:46Z
dc.date.issued 2005-11-16T00:00:00Z en_US
dc.identifier.uri http://hdl.handle.net/10398/7575
dc.description.abstract Samuelson (1958) analyses a three-period model, whereas Diamod (1965) considers a two-period model. This difference poses the question whether the insights derived by analysing the simple two-period model carry over in the more complicated three-period case. They do. The Samuelson model (no productive capital) has only one positive solution (r = n); however, this root is unstable. The Diamond model (no nonproductive abode of purchasing power) has also only one positive solution; the root is stable but inefficient. In a model with both productive capital and a non-productive abode of purchasing power, the inefficient Diamond solution becomes unstable and the socially optimal solution becomes stable. en_US
dc.format.extent 10 s. en_US
dc.language eng en_US
dc.relation.ispartofseries Working paper;2005-015 en_US
dc.title A Three-period Samuelson-Diamond Growth en_US
dc.type wp en_US
dc.accessionstatus modt05nov16 miel en_US
dc.contributor.corporation Copenhagen Business School. CBS en_US
dc.contributor.department Økonomisk Institut en_US
dc.contributor.departmentshort ECON en_US
dc.contributor.departmentuk Department of Economics en_US
dc.contributor.departmentukshort ECON en_US
dc.idnumber x656503911 en_US
dc.publisher.city København en_US
dc.publisher.year 2005 en_US


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