A Three-period Samuelson-Diamond Growth

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