Resolving singularities in a Ramsey-type growth model (Q5928203)

The aim of this paper is to discuss a mathematical solution procedure to solve a Ramsey-type growth model. The Ramsey growth model is a basic model in macroeconomics that explains the fundamentals of consumption and capital accumulation in a dynamic real equilibrium setting. The problem is formulated as a system of recursive equations and studied through some numerical experiments for the time path of the different variables of the model under some alternative assumption for the steady-state equilibrium of the labour market conditioning the possible singularity of the model.