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Endogenous time preference and infrastructure‑led growth with an unexpected numerical example
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Autores
Orientador(es)
Resumo(s)
This paper shows the construction of a growth model that includes public infrastruc ture and a related externality and investigates the dynamic properties of the model
for a specifc endogenous time preference function. After suggesting a saddle-path
stability for long-term equilibrium under an endogenous time preference, numerical
analysis of the model then reveals an unexpected relation between the strength of the
externality, the magnitude of the rate of time preference, and the growth rate of the
economy. In addition, it is found that multiple equilibria are unlikely to be supported
empirically by the model in this paper
Descrição
Palavras-chave
Endogenous time preference Public infrastructure Capital-deepening externality Numerical analysis
Contexto Educativo
Citação
Hosoya, Kei (2024). "Endogenous time preference and infrastructure‑led growth with an unexpected numerical example". Portuguese Economic Journal, 23(1):3-32
Editora
Springer