Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/48110
Authors: 
Wälde, Klaus
Year of Publication: 
2001
Series/Report no.: 
Dresden discussion paper in economics 09/01
Abstract: 
Capital accumulation and creative destruction is modeled together with risk-averse households. The novel aspect - risk-averse households - allows to use well-known models not only for analyzing long-run growth as in the literature but also short-run fluctuations. The model remains analytically tractable due to a very convenient property of the household's investment decision in this stochastic continuous-time setup.
Subjects: 
Creative destruction
Risk averse households
Capital accumulation
Endogenous fluctuations and growth
JEL: 
E32
O31
O41
Document Type: 
Working Paper

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