Scandinavian Working Papers in Economics
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The Economic Research Institute, Stockholm School of Economics SSE/EFI Working Paper Series in Economics and Finance

No 49:
Investment Decisions, Future Consumption and Sustainability under Optimal Growth

Thomas Aronsson, Per-Olov Johansson () and Karl-Gustaf Löfgren

Abstract: In this paper we derive an exact relationship between the net investment at a given point in time and future consumption plans. Our result is general in the sense that it neither requires a constant rate of time preference nor an exponential discount function. One interpretation of the result is in terms of the willingness to pay for net investments, while another interpretation relates to conditions for sustainability.

Keywords: Ramesy model; welfare measurement; national product; (follow links to similar papers)

JEL-Codes: D90; (follow links to similar papers)

11 pages, March 1995

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