Life-cycle savings, bequest, and a diminishing impact of scale on growth
Research output: Contribution to journal › Journal article › Research › peer-review
The present paper shows that the savings motive critically affects the size and sign of scale effects in standard endogenous growth models. If the bequest motive dominates, the scale effect is positive. If the life-cycle motive dominates, the scale effect is ambiguous and may even be negative.
| Original language | English |
|---|---|
| Journal | Journal of Economic Dynamics and Control |
| Volume | 33 |
| Issue number | 9 |
| Pages (from-to) | 1639-1647 |
| Number of pages | 9 |
| ISSN | 0165-1889 |
| DOIs | |
| Publication status | Published - 2009 |
- Faculty of Social Sciences - overlapping generations, scale effects, endogenous growth
Research areas
ID: 12122865