RT info:eu-repo/semantics/article
T1 Non-Constant Discounting and Ak-Type growth models
A1 Cabo García, Francisco José
A1 Martín Herrán, Guiomar
A1 Martínez García, María Pilar
AB This paper analyzes an Ak-type endogenous growth model under non-constant discounting,assuming both naïve and sophisticated consumers. For both type of consumersan isoelastic utility with an intertemporal elasticity below one guarantees observationalequivalence 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 thantypically predicted by the literature with exponential discounting.
YR 2015
FD 2015
LK http://uvadoc.uva.es/handle/10324/27723
UL http://uvadoc.uva.es/handle/10324/27723
LA eng
NO Economics Letters, 131, 54-58, 2015.
NO Producción Científica
DS UVaDOC
RD 24-nov-2024