Investment rules and time invariance under population growth

نویسندگان

چکیده

We propose an adaptation of Hartwick’s investment rule to models with population growth and show that following is equivalent a time-invariant real per capita net national product. In the so-called DHSS model capital accumulation resource depletion proposed equates capital, dilution effect growth, value resource, gross effect. investigate why this asymmetry arises by analyzing general multiple goods, in which we obtain formulation where gains play role if positive. Since accrue only but not get apparent model. both as corollary keeping investments equal zero leads constant consumption constant.

برای دانلود باید عضویت طلایی داشته باشید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Regular Language Invariance under One-Dimensional Cellular Automaton Rules

Procedures are given for det ermining regul ar language invariance under on e-dimensi on al cellular auto maton rul es. A met ric is defined for t he space of all one-dimensional cellular automato n rules over a given alphabet :E . It is shown that under this metric, for cert ain regular langu ages , the set of rules under which the language is invariant contains no interior, and its compleme n...

متن کامل

Discrete time growth optimal investment with costs∗

In this work we ask how should an investor distribute wealth over various assets to maximizethe growth rate of the cumulative wealth in a discrete time market with proportional transactioncosts. We show that this sequential decision problem has a stationary optimal policy. Inaddition, we show that for all 2 > 0 there exists a policy that guarantees a growth rate at most 2bel...

متن کامل

Invariance of Fréchet frames under perturbation

Motivating the perturbations of frames in Hilbert and Banach spaces, in this paper we introduce the invariance of Fr'echet frames under perturbation. Also we show that for any Fr'echet spaces, there is a Fr'echet frame and any element in these spaces  has a series expansion.

متن کامل

Saving, Investment, and Growth: A Causality Test

In the second half of the last century, tremendous efforts were devoted to identifying sources of economic success by a few countries and causes of failure by most. In this process a voluminous literature ranging from the neo-classical to Marxist, neo-Marxist, and dependency theories has been developed to answer the question of disparity among different countries of the north vis-à-vis those of...

متن کامل

Time-consistent investment strategy under partial information ¬リニ

This paper considers a mean–variance portfolio selection problem under partial information, that is, the investor can observe the risky asset price with random drift which is not directly observable in financial markets. Since the dynamic mean–variance portfolio selection problem is time inconsistent, to seek the time-consistent investment strategy, the optimization problem is formulated and ta...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: Journal of Economic Dynamics and Control

سال: 2021

ISSN: ['1879-1743', '0165-1889']

DOI: https://doi.org/10.1016/j.jedc.2020.104048