新古典增长模型的一个任意精确的全局闭式近似

中文摘要 AI 辅助

我考虑一个具有常数绝对风险厌恶（CARA）效用函数的新古典增长模型，并推导出一个全局闭式近似，当贴现率$\ ho$接近人口增长率$n$时，该近似可任意精确。我利用它来证明消费函数是严格凹的，并且各国可以拥有两条不同的收敛到稳态的路径：前置加载和后置加载。

英文摘要

I consider a neoclassical growth model with a constant absolute risk aversion (CARA) utility function and derive a global closed form approximation that is arbitrarily precise as the discount rate $ρ$ is close to the population growth rate $n$. I use it to show that the consumption function is strictly concave and that countries can have two different paths converging to the steady-state: front-loading and back-loading.

发表机构

• Banque de France（法国银行）

机构由 AI 辅助整理，请以论文原文为准。