Genuine saving under stochastic growth

The concept of genuine saving has in recent years become widely accepted as a dynamic welfare indicator, which first appeared inWeitzman (Q. J. Econ. 99:1–13, 1976) and then formalized by Pearce and Atkinson (Ecol. Econ. 8:103–108, 1993). This paper attempts to generalize this concept in a stochastic setting using an extended version of the standard Ramsey growth model (Merton in Rev. Econ. Stud. 42:375–379, 1975)….

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Query Monitor

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