Skip to Main content Skip to Navigation
Journal articles

Viable Ramsey Economies

Abstract : The Ramsey model of economic growth is revisited from the perspective of viability theory. The Ramsey model, augmented with minimal consumption and sustainability criteria, becomes a viability problem. The framework allows for a clear picture of optimal viable, optimal nonviable, and viable nonoptimal paths. The drastic sacrifices in terms of present consumption required by the implementation of Brundtland sustainability are visualized, the rich countries bearing the major part of the burden. The econometric analysis of viability sets enhances the role of technological progress in ensuring Brundtland sustainability. Preference parameters such as the pure time preference rate are statistically nonsignificant.
Complete list of metadata
Contributor : Elisabeth Lhuillier Connect in order to contact the contributor
Submitted on : Wednesday, February 22, 2017 - 5:25:06 PM
Last modification on : Tuesday, August 2, 2022 - 2:37:45 PM



Noël Bonneuil, Raouf Boucekkine. Viable Ramsey Economies. Canadian Journal of Economics, 2014, 47 (2), pp.422--441. ⟨10.1111/caje.12084⟩. ⟨hal-01474427⟩



Record views