The Ramsey model with logistic population growth and benthamite felicity function revisited

摘要: In this paper we extend the study done by Ferrara and Guerrini [12], where two different research lines within Ramsey model were joined together: one studying role of a logistic population growth rate (Accinelli Brida [2]), analyzing effects Benthamite formulation for utility function. The results obtained in [12] special case constant intertemporal elasticity substitution (CIES) function Cobb-Douglas production are provided to be still true general neoclassical We have that is described three dimensional dynamical system, whose unique non-trivial steady state equilibrium saddle point with stable manifold. Consequently, speed convergence determined roots, rather than only as basic model. addition, CIES technology, an explicit solution can derived, when capital's share equal reciprocal substitution.