Economic growth with finite lifetimes

Authors
Araujo, JT Martins, MAC
Citation
Jt. Araujo et Mac. Martins, Economic growth with finite lifetimes, ECON LETT, 62(3), 1999, pp. 377-381
Citations number
10
Categorie Soggetti
Economics
Journal title
ECONOMICS LETTERS
ISSN journal
01651765 → ACNP
Volume
62
Issue
3
Year of publication
1999
Pages
377 - 381
Database
ISI
SICI code
0165-1765(199903)62:3<377:EGWFL>2.0.ZU;2-N
Abstract
Finite lifetimes do not preclude sustained growth with a convex technology when agents are finitely-lived and formulate their bequeathing decisions in terms of an absolute bequest motive. In this model the presence of governm ent debt adversely affects the equilibrium rate of growth of the capital st ock. (C) 1999 Elsevier Science S.A. All rights reserved.