Bambi, M. and Di Girolami, C. and Federico, S. and Gozzi, F. (2017) 'Generically distributed investments on flexible projects and endogenous growth.', Economic theory., 63 (2). pp. 521-558.
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.
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|Publisher Web site:||https://doi.org/10.1007/s00199-015-0946-z|
|Publisher 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.|
|Date accepted:||12 December 2015|
|Date deposited:||10 August 2018|
|Date of first online publication:||29 December 2015|
|Date first made open access:||No date available|
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