2024-03-28T16:51:37Zhttps://uvadoc.uva.es/oai/requestoai:uvadoc.uva.es:10324/277232021-06-23T10:06:33Zcom_10324_1146com_10324_931com_10324_894col_10324_1262
Non-Constant Discounting and Ak-Type growth models
Cabo García, Francisco José
Martín Herrán, Guiomar
Martínez García, María Pilar
Producción Científica
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.
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”.
2017-12-20T11:13:19Z
2017-12-20T11:13:19Z
2015
info:eu-repo/semantics/article
Economics Letters, 131, 54-58, 2015.
http://uvadoc.uva.es/handle/10324/27723
eng
info:eu-repo/semantics/openAccess
application/pdf