Asymptotic behavior of optimal paths in homogeneous macroeconomic models (Q1085035)
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scientific article; zbMATH DE number 3980859
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| English | Asymptotic behavior of optimal paths in homogeneous macroeconomic models |
scientific article; zbMATH DE number 3980859 |
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Asymptotic behavior of optimal paths in homogeneous macroeconomic models (English)
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1985
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We investigate the behavior of optimal paths over long planning periods for a wide class of technology models having the property of positive homogeneity. It is shown that for a concave growth rate function, the optimal states are strongly convergent to the balanced proportional growth solution. For the two-commodity case, the concavity assumption may be omitted.
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behavior of optimal paths
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long planning periods
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positive homogeneity
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0.8342015147209167
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0.7899795174598694
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0.788354218006134
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