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At Last! An Explicit Solution for the Ramsey Saddle Path

Author

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  • Halvor Mehlum

    (University of Oslo)

Abstract

I derive an explicit solution for the saddle path in a Ramsey growth model. The existence of a closed form expression greatly simplifies the analysis of how the parameters of the utility function affects investments and growth.

Suggested Citation

  • Halvor Mehlum, 2002. "At Last! An Explicit Solution for the Ramsey Saddle Path," GE, Growth, Math methods 0210005, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpge:0210005
    Note: Type of Document - pdf; prepared on latex; pages: 6
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    References listed on IDEAS

    as
    1. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    2. Robert J. Barro & Paul Romer, 1993. "Economic Growth (1992)," NBER Books, National Bureau of Economic Research, Inc, number barr93-1.
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    More about this item

    Keywords

    Ramsey growth model;

    JEL classification:

    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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