Projets par an
Résumé
Recent research in economic theory attempts to study optimal economic growth
and spatial location of economic activity in a uniÖed framework. So far, the key result of this literature - asymptotic convergence, even in the absence of decreasing returns to capital - relies on speciÖc assumptions about the objective of the social planner. We show that this result does not depend on such restrictive assumptions and obtains for a broader class of objective functions. We also generalize this Önding, allowing for the time-varying technology parameter, and provide an explicit solution for the dynamics of spatial distribution of the capital stock.
and spatial location of economic activity in a uniÖed framework. So far, the key result of this literature - asymptotic convergence, even in the absence of decreasing returns to capital - relies on speciÖc assumptions about the objective of the social planner. We show that this result does not depend on such restrictive assumptions and obtains for a broader class of objective functions. We also generalize this Önding, allowing for the time-varying technology parameter, and provide an explicit solution for the dynamics of spatial distribution of the capital stock.
langue originale | Anglais |
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Editeur | Namur center for complex systems |
Nombre de pages | 16 |
Volume | 3 |
Edition | 14 |
Etat de la publication | Publié - 19 janv. 2014 |
Série de publications
Nom | naXys Technical Report Series |
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Editeur | University of Namur |
Numéro | 2014 |
Volume | 3 |
Empreinte digitale
Examiner les sujets de recherche de « On Convergence in the Spatial AK Growth Models ». Ensemble, ils forment une empreinte digitale unique.-
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PAI n°P7/19 - DYSCO: Dynamical systems, control and optimization (DYSCO)
Winkin, J. (Co-investigateur), Blondel, V. (Responsable du Projet), Vandewalle, J. (Co-investigateur), Pintelon, R. M. (Co-investigateur), Sepulchre, R. (Co-investigateur), Vande Wouwer, A. (Co-investigateur) & Sartenaer, A. (Co-investigateur)
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Projet: Recherche