P. Michel

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Non-convex Aggregate Technology and Optimal Economic Growth.

Xuất bản: 27 July, 2022

Cuong Le Van, Cuong Le Van, N. M. Hung, P. Michel, N. M. Hung, P. Michel

This paper examines a model of optimal growth where the aggregation of two separate well behaved and concave production technologies exhibits a basic non-convexity. First, we consider the case of strictly concave utility function: when the discount rate...

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