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Título: Non-Constant Discounting and Ak-Type growth models
Autor: Cabo, Francisco
Martín-Herrán, Guiomar
Martínez-García, María Pilar
Año del Documento: 2015
Descripción: Producción Científica
Documento Fuente: Economics Letters, 131, 54-58, 2015.
Resumen: This paper analyzes an Ak-type endogenous growth model under non-constant discounting, assuming both naïve and sophisticated consumers. For both type of consumers an isoelastic utility with an intertemporal elasticity below one guarantees observational equivalence under exponential and non-constant discounting, but rejects strong equivalence (identical overall impatience does not leads to identical growth rates). Further, polices aimed at increasing productivity of the economy are less growth-enhancing than typically predicted by the literature with exponential discounting.
Revisión por Pares: SI
Patrocinador: The authors have been partially supported by MEC under project ECO2011- 24352, co-financed by FEDER funds. The authors acknowledge the support by COST Action IS1104 “The EU in the new economic complex geography: models, tools and policy evaluation”.
Idioma: eng
URI: http://uvadoc.uva.es/handle/10324/27723
Derechos: info:eu-repo/semantics/embargoedAccess
Aparece en las colecciones:DEP20 - Artículos de revista

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