How does the transition path differ depending on whether, Econometrics

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How does the transition path differ depending on whether

Irreversibility of investment in the Ramsey model. Suppose that the economybegins with ˆk (0) > ˆk *. How does the transition path differ depending on whether capital isreversible (convertible back into consumables on a one-to-one basis) or irreversible?

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