Comparative Dynamics in Aggregate Models of Optimal Capital Accumulation
研究了一类最优积累总量模型中，贴现因子上升是否导致各期资本增加。对于单调最优路径，资本随贴现因子增加而增加；对于振荡路径，给出了反例，并应用于企业调整成本模型。
The hypothesis that capital increases at each time in response to an increase in the discount factor is explored for a class of aggregate models of optimal accumulation. When the optimal program is monotonic, capital is shown to increase with an increase in the discount factor. A counterexample in the case of oscillating programs is discussed. An application of the monotone case is given for an adjustment cost model of the firm.