On uniqueness of a steady state and convergence of optimal paths in multisector models of optimal growth with a discount rate

DOI10.1016/0022-0531(81)90051-XMaRDI QIDQ1158337zbMATH OpenFDO

Authors Kiyohiko G. Nishimura

Publication date 1981

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/0022-0531(81)90051-X

zbMATH Keywords

asymptotic stabilityconvergence of optimal pathsderived Hamiltonian functionsglobal curvature conditionsmultisector modelsnon-separable utility functionoptimal economic growthpositive discount ratesteady statesufficient uniqueness conditions

Mathematics Subject Classification ID

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

Cites work

• A characterization of the normalized restricted profit function
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• On Existence of Weakly Maximal Programmes in a Multi-Sector Economy
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• On the Differentiability of the Value Function in Dynamic Models of Economics
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• Saddle points of Hamiltonian systems in convex Lagrange problems having a nonzero discount rate
• Saddle points of Hamiltonian systems in convex problems of Lagrange
• Some new results on the local stability of the process of capital accumulation
• Stability of Separable Hamiltonians and Investment Theory
• The General Instability of a Class of Competitive Growth Processes
• The structure and stability of competitive dynamical systems
• Turnpike Theory

Cited in

(4)

• On the optimality and stability of competitive paths in continuous time growth models
• Strong concavity properties of indirect utility functions in multisector optimal growth models
• Local stability in endogenous growth models
• A turnpike theorem for continuous-time optimal-control models

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