Corrigendum to 'optimal saving under Poisson uncertainty' [J. Econ. Theory 87 (1999) 194-217]

Wälde, K. (2008) Corrigendum to 'optimal saving under Poisson uncertainty' [J. Econ. Theory 87 (1999) 194-217]. Journal of Economic Theory, 140(1), e5-e9. (doi: 10.1016/j.jet.2004.07.005)

Abstract

The derivation of the Keynes-Ramsey rule in Wälde (1999) contains two errors. Correcting them affects the expression for the Keynes-Ramsey rule in (11) but leaves all other findings of the paper unaffected. It especially does not affect the major finding of the paper, i.e. the dichotomy ingeneral equilibrium between a stochastic and a deterministic regime. As a consequence, the analysis of endogenous business cycles in very tractable models remains entirely valid.

• Item Type: Articles
• Status: Published
• Refereed: Yes
• Glasgow Author(s) Enlighten ID: UNSPECIFIED
• Authors: Wälde, K.
• Subjects: H Social Sciences > HB Economic Theory
• College/School: College of Social Sciences > Adam Smith Business School > Economics
• Journal Name: Journal of Economic Theory
• Publisher: Elsevier
• ISSN: 0022-0531
• Copyright Holders: Copyright © 2008 Elsevier
• First Published: First published in Journal of Economic Theory 140(1):e5-e9
• Publisher Policy: Reproduced in accordance with the copyright policy of the publisher