Global equilibrium dynamics with stationary recursive preferences
作者： J. Benhabib , M. Majumdar , K. Nishimura
DOI: 10.1016/0167-2681(87)90054-0
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摘要: Abstract We study the global dynamics of capital accumulation for a general two-sector model which is not necessarily convex and where preferences an infinitely-lived agent are stationary but additively separable. obtain monotonicity convergence results under ‘normality’ assumptions on factor intensity technology. then derive oscillatory alternative factor-intensity conditions or assumption inferiority ‘future utilities’. Finally, in exchange with two agents we show that utilities will be monotonic depending normality preferences.
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