Optimal exponent in the Ramsey--Kass--Koopmans problem with logarithmic utility function
Čebyševskij sbornik, Tome 20 (2019) no. 4, pp. 197-207.

Voir la notice de l'article provenant de la source Math-Net.Ru

We study the full utility of economic activity in a certain model, when the investment in the production of an economic resource is given as an exponent and the utility function — logarithm. We prove the existence and uniqueness of the optimal exponent and find the interval in which the optimal exponent is contained.
Keywords: mathematical model, Ramsey–Kass–Koopmans problem, competitive households, maximizing total utility, log-utility.
@article{CHEB_2019_20_4_a13,
     author = {A. I. Kozko and L. M. Luzhina and A. Yu. Popov and V. G. Chirskii},
     title = {Optimal exponent in the {Ramsey--Kass--Koopmans} problem with logarithmic utility function},
     journal = {\v{C}eby\v{s}evskij sbornik},
     pages = {197--207},
     publisher = {mathdoc},
     volume = {20},
     number = {4},
     year = {2019},
     language = {ru},
     url = {http://geodesic.mathdoc.fr/item/CHEB_2019_20_4_a13/}
}
TY  - JOUR
AU  - A. I. Kozko
AU  - L. M. Luzhina
AU  - A. Yu. Popov
AU  - V. G. Chirskii
TI  - Optimal exponent in the Ramsey--Kass--Koopmans problem with logarithmic utility function
JO  - Čebyševskij sbornik
PY  - 2019
SP  - 197
EP  - 207
VL  - 20
IS  - 4
PB  - mathdoc
UR  - http://geodesic.mathdoc.fr/item/CHEB_2019_20_4_a13/
LA  - ru
ID  - CHEB_2019_20_4_a13
ER  - 
%0 Journal Article
%A A. I. Kozko
%A L. M. Luzhina
%A A. Yu. Popov
%A V. G. Chirskii
%T Optimal exponent in the Ramsey--Kass--Koopmans problem with logarithmic utility function
%J Čebyševskij sbornik
%D 2019
%P 197-207
%V 20
%N 4
%I mathdoc
%U http://geodesic.mathdoc.fr/item/CHEB_2019_20_4_a13/
%G ru
%F CHEB_2019_20_4_a13
A. I. Kozko; L. M. Luzhina; A. Yu. Popov; V. G. Chirskii. Optimal exponent in the Ramsey--Kass--Koopmans problem with logarithmic utility function. Čebyševskij sbornik, Tome 20 (2019) no. 4, pp. 197-207. http://geodesic.mathdoc.fr/item/CHEB_2019_20_4_a13/

[1] Rahul Giri, Growth Model with Endogenous Savings: Ramsey-Cass-Koopmans Model, http://ciep.itam.mx/r̃ahul.giri/uploads/1/1/3/6/113608/ramsey-cass-koopmans_model.pdf

[2] Barro Robert J., Sala-i-Martin Xavier, Economic growth, 2nd ed., MIT Press, Massachusetts, 2003

[3] Pierre-Olivier Gourinchas, Notes for Econ202A: The Ramsey-Cass-Koopmans Model, UC Berkeley Fall, 2014 https://eml.berkeley.edu/w̃ebfac/gourinchas/e202a_f14/Notes_Ramsey_Cass_Koopmans_pog.pdf | Zbl

[4] Groth Christian, Koch Karl-Josef, Steger Thomas Michael, “Rethinking the Concept of Long-Run Economic Growth”, CESifo Working Paper Series, 1701, April (2006) https://ssrn.com/abstract=899250

[5] Groth Christian, Koch Karl-Josef, Steger Thomas Michael, “When Economic Growth is Less than Exponential”, Economic Theory, 44:2 (2010) | DOI | MR | Zbl

[6] Groth C., Chapter 10: The Ramsey Model, , 2010 http://web.econ.ku.dk/okocg/VV/VV-2010/Lecture notes/Ch7-2010-1.pdf

[7] Abel A. B., “Asset Prices under Habit Formation and Catching Up with the Joneses”, American Economic Review, 80:2 (1990), 38–42

[8] Carroll Ch. D., Overland J. R., Weil D. N., “Saving and Growth with Habit Formation”, American Economic Review, 90:3 (2000), 341–355 | DOI

[9] Romer D., Advanced Macroeconomics, 3rd ed., McGraw-Hill/Irwin, New York, 2006, 651 pp.

[10] King Robert G., Sergio Rebelo, “Transitional Dynamics and Economic Growth in the Neoclassical Model”, American Economic Review, 83, September (1993), 908–931

[11] Kozko A. I., Luzhina L. M., Popov A. Yu., Chirskii V. G., “Assessment of the need for an initial economic resource in the Ramsey-Kass-Koopmans problem”, Chebyshevskii sbornik, 2019

[12] Kozko A. I., Luzhina L. M., Popov A. Yu., Chirskii V. G., “The model of the problem Ramsey-Kass-Koopmans”, Classical and modern geometry, materials of the international conference dedicated to the 100th anniversary of V. T. Bazylev, ed. A. V. Tsarev, Moscow state pedagogical University, M., 2019, 87–88

[13] Kozko A. I., Luzhina L. M., Popov A. Yu., Chirskii V. G., “On the Ramsey-Kass-Koopmans problem for consumer choice”, Results of science and technology. Modern mathematics and its applications. Thematic review, 2019

[14] Zorich V. A., Mathematical Analysis, Springer, 2004, 574 pp. | MR | Zbl

[15] Alekseev V. M., Tikhomirov V. M., Fomin S. V., Optimal Control, Springer, Boston, MA, 1987, 310 pp. | MR

[16] Robert J. Barro, “Ramsey Meets Laibson in the Neoclassical Growth Model”, The Quarterly Journal of Economics, 114:4 (1999), 1125–1152 | DOI | Zbl