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A note on Ramsey's conjecture with AK technology

Author

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  • Shinya Tsukahara

    (Kyoto University)

Abstract

We consider an endogenously growing economy with heterogeneous households, each of which prefers capital　(or wealth) as well as consumption. Regarding Ramsey's conjecture on the long-run distribution of capital among households, we present some extended versions of the result that was shown by Nakamura (2014, “On Ramsey's Conjecture with AK Technology,†Economics Bulletin, 34(2), pp. 875-884). One of our results is that if aggregate capital productivity is low, the most impatient household could eventually own the entire capital (not “almost all†the capital) of the economy.

Suggested Citation

  • Shinya Tsukahara, 2016. "A note on Ramsey's conjecture with AK technology," Economics Bulletin, AccessEcon, vol. 36(1), pages 165-172.
    • Handle: RePEc:ebl:ecbull:eb-15-00703
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    File URL: http://www.accessecon.com/Pubs/EB/2016/Volume36/EB-16-V36-I1-P18.pdf
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    Cited by:

    1. Shinya Tsukahara, 2017. "Habit formation, growth, and Ramsey's conjecture," Economics Bulletin, AccessEcon, vol. 37(4), pages 2871-2880.

    More about this item

    Keywords

    Heterogeneous households; Wealth preference; Patience; Wealth distribution; Endogenous growth;
    All these keywords.

    JEL classification:

    • D3 - Microeconomics - - Distribution
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment

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