Abstract
This paper develops a continuous-time general equilibrium stochastic growth model. After deriving the equilibrium, the model is used to analyze the determinants of the equilibrium growth rate. Equilibrium asset pricing and optimal tax issues are also considered. The paper concludes by indicating how the analysis can be extended to include: (i) money, (ii) adjustment costs in investment; (iii) utility-enhancing and productive government expenditure; (iv) applications to international economics.
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