Asymptotic behavior of optimal paths in homogeneous macroeconomic models (Q1085035)
From MaRDI portal
!
This is the item page for this Wikibase entity, intended for internal use and editing purposes. Please use the normal view instead:
scientific article; zbMATH DE number 3980859
| Language | Label | Description | Also known as |
|---|---|---|---|
| default for all languages | No label defined |
||
| English | Asymptotic behavior of optimal paths in homogeneous macroeconomic models |
scientific article; zbMATH DE number 3980859 |
Statements
Asymptotic behavior of optimal paths in homogeneous macroeconomic models (English)
0 references
1985
0 references
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.
0 references
behavior of optimal paths
0 references
long planning periods
0 references
positive homogeneity
0 references
0.8342015147209167
0 references
0.7899795174598694
0 references
0.788354218006134
0 references
