Bliss and Optimal Growth

Date

2001-01-01

Author

Başçı, Erdem
Voyvoda, Ebru

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URI

https://hdl.handle.net/11511/77033

Journal

ODTÜ Gelişme Dergisi

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Bliss and optimal growth Başçı, Erdem; Voyvoda, Ebru (Orta Doğu Teknik Üniversitesi (Ankara, Turkey), 2001) This paper studies optimal growth when households have bliss points in their consumption sets. Optimal policies are characterized for a one-sector, discrete-time growth model with quadratic utility and linear technology. The optimal consumption function turns out to be non-linear in an essential way. Depending on the level of patience and initial capital, poverty traps, Solow-type growth and endogenous growth are possible outcomes.
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Citation Formats

E. Başçı and E. Voyvoda, “Bliss and Optimal Growth,” ODTÜ Gelişme Dergisi, pp. 1–14, 2001, Accessed: 00, 2021. [Online]. Available: https://hdl.handle.net/11511/77033.