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1 105/2 國企系 賴錦璋 副教授 會議論文 發佈 The Possibility of Growth Fluctuation under AK model , [105-2] :The Possibility of Growth Fluctuation under AK model會議論文The Possibility of Growth Fluctuation under AK modelLAI, CHINCHANGAK;Endogenous;IndeterminacyProceedings of International Symposium on Business and Management, Vol.6 No.1This paper mainly shows that capital evolution may display saddle-path convergence even under one-sector AK model when uncertainty is present. A growing economy not only necessarily goes through periods of high and low growth but also must face negative growth rate if shock volatility is considered. Besides, we can derive a close-form solution to demonstrate that the relationship between uncertainty (or Arrow &Pratt relative risk index ) and growth is U-shaped as previous studies indicated under usual parameter setting. The intuition behind this paper comes from the fact that substitution and income effect work together to affect capital evolution when facing risk.en國際無20170404~20170406是JPN2017 International Symposium on Business and ManagementKyoto, Japanese
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