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A Closed Form Ramsey Saddle Path

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  • Mehlum Halvor

    (University of Oslo)

Abstract

I show that in a Ramsey growth model, where the production function is of fixed proportions type and the utility function is CRRA, the saddle path is a closed form expression. The closed form expression greatly simplifies the analysis of how the labor productivity growth, the intertemporal rate of substitution, and the discount factor affect investments and growth.

Suggested Citation

  • Mehlum Halvor, 2005. "A Closed Form Ramsey Saddle Path," The B.E. Journal of Macroeconomics, De Gruyter, vol. 5(1), pages 1-15, April.
    • Handle: RePEc:bpj:bejmac:v:contributions.5:y:2005:i:1:n:2
    DOI: 10.2202/1534-6005.1267
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    Cited by:

    1. Ju, Jiandong & Lin, Justin Yifu & Wang, Yong, 2015. "Endowment structures, industrial dynamics, and economic growth," Journal of Monetary Economics, Elsevier, vol. 76(C), pages 244-263.
    2. Constantin Chilarescu & Ioana Viasu, 2016. "A Closed-form Solution of a Two-sector Endogenous Growth Model with Habit Formation," Australian Economic Papers, Wiley Blackwell, vol. 55(2), pages 112-127, June.
    3. Ioana VIAŞU, 2014. "Some Properties of the Solution of the Ramsey Model," Timisoara Journal of Economics and Business, West University of Timisoara, Romania, Faculty of Economics and Business Administration, vol. 7(2), pages 113-122, December.

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    Keywords

    Ramsey growth model;

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