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Generically distributed investments on flexible projects and endogenous growth

Bambi, M.; Di Girolami, C.; Federico, S.; Gozzi, F.

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Authors

C. Di Girolami

S. Federico

F. Gozzi



Abstract

In this paper we study an endogenous growth model where investments are (generically) distributed over multi-period flexible projects leading to new capital once completed. Recently developed techniques in dynamic programming are adapted and used to unveil the global dynamics of this model. Based on this analytical ground, several numerical exercises are performed to show the quantitative relevance of the analytical findings with an emphasis on the relation between project features and economic growth and speed of convergence toward the balanced growth path.

Citation

Bambi, M., Di Girolami, C., Federico, S., & Gozzi, F. (2017). Generically distributed investments on flexible projects and endogenous growth. Economic Theory, 63(2), 521-558. https://doi.org/10.1007/s00199-015-0946-z

Journal Article Type Article
Acceptance Date Dec 12, 2015
Online Publication Date Dec 29, 2015
Publication Date Feb 1, 2017
Deposit Date Aug 2, 2018
Publicly Available Date Mar 28, 2024
Journal Economic Theory
Print ISSN 0938-2259
Electronic ISSN 1432-0479
Publisher Springer
Peer Reviewed Peer Reviewed
Volume 63
Issue 2
Pages 521-558
DOI https://doi.org/10.1007/s00199-015-0946-z
Public URL https://durham-repository.worktribe.com/output/1324769

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Publisher Licence URL
http://creativecommons.org/licenses/by/4.0/

Copyright Statement
© The Author(s) 2015 Open Access This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.





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