Generically distributed investments on flexible projects and endogenous growth
研究投资分布在多期灵活项目上的内生增长模型，利用动态规划揭示全局动态，并通过数值分析展示项目特征对经济增长和收敛速度的影响。
In this paper we study an endogenous growth model where investments are (generically) distributed over multi-period flexible projects leading to new capital once completed. Recently developed techniques in dynamic programming are adapted and used to unveil the global dynamics of this model. Based on this analytical ground, several numerical exercises are performed to show the quantitative relevance of the analytical findings with an emphasis on the relation between project features and economic growth and speed of convergence toward the balanced growth path.