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| Orlando Gomes |
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| ''Stability under learning: the neo-classical growth problem'' |
| ( 2009, Vol. 29 No.4 ) |
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| A local stability condition for the standard neo-classical Ramsey growth model is derived. The proposed setting is deterministic, defined in discrete time and expectations are formed through adaptive learning. The stability condition imposes an upper bound on the long-term value of the gain sequence. |
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| Keywords: Neo-classical growth, Adaptive learning, Stability |
JEL: O4 - Economic Growth and Aggregate Productivity: General
C6 - Mathematical Methods and Programming: General |
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| Manuscript Received : Nov 21 2009 | | Manuscript Accepted : Dec 23 2009 |
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