Balanced growth without constant returns to scale

DOI10.1016/0304-4068(86)90008-XMaRDI QIDQ1083015zbMATH OpenFDO

Authors Thomas T. Read

Publication date 1986

Published in Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/0304-4068(86)90008-X

zbMATH Keywords

existencenonlinear input-output modelrelative stabilityunique balanced growth path

Mathematics Subject Classification ID

Economic growth models (91B62) Multisectoral models in economics (91B66)

Review text

The article deals with a nonlinear input-output model \(x(t+1)=H(x(t))\), where \(x(t)\in R^ n_+\) and \(H: R^ n_+\to R^ n_+\) is a continuous monotonous mapping. The existence and relative stability of a unique balanced growth path is established under some assumptions on H. The usual assumption of homogeneity is replaced by two additional assumptions, which allow the growth rate of the balanced growth path to fluctuate.

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Cites work

• Balanced Growth under Constant Returns to Scale
• The Frobenius theorem, its Solow-Samuelson extension and the Kuhn-Tucker theorem

Cited in

(10)

• Condition of balanced economic growth beyond the planning horizon
• Schumpeterian growth without scale effects
• The nonlinear Perron-Frobenius theorem
• Stability analysis of the dynamic input-output system.
• Types of balanced growth
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• Path stability of prices in a nonlinear Leontief model

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