Skip to Main content Skip to Navigation
Journal articles

Optimal growth when consumption takes time

Abstract : This article analyzes a one-sector growth model where the consumption takes time. When the consumption takes time, the consumption set is compact and we meet satiety. However, we prove that dynamic constraints are binding. This result is crucial to prove that, under well-known assumptions in macroeconomic dynamic programming, the optimal path is monotonic and always converges to a unique nontrivial steady state as in the case where consumption is timeless.
Document type :
Journal articles
Complete list of metadata
Contributor : UMR 8174 Centre d'Économie de la Sorbonne Connect in order to contact the contributor
Submitted on : Tuesday, June 15, 2021 - 3:31:12 PM
Last modification on : Friday, April 29, 2022 - 10:13:05 AM



Thai Ha‐huy, Cuong Le Van, Thi‐do‐hanh Nguyen. Optimal growth when consumption takes time. Journal of Public Economic Theory, Wiley, 2020, 22 (5), pp.1442-1461. ⟨10.1111/jpet.12467⟩. ⟨hal-03261249⟩



Record views