Von Neumann facets and the dynamic stability of perfect foresight equilibrium paths in neo-classical trade models

DOI10.1007/BF01227366MaRDI QIDQ582192zbMATH OpenFDO

Authors Makoto Yano

Publication date 1990

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

zbMATH Keywords

stability propertiesasymptotic stabilityneo-classical production functionsperfect foresight equilibrium pathtime-phased trade modelsvon Neumann facets

Mathematics Subject Classification ID

Economic growth models (91B62) Lyapunov and other classical stabilities (Lagrange, Poisson, (L^p, l^p), etc.) in control theory (93D05) Multisectoral models in economics (91B66)

Recommendations

• Multiplicity and stability of equilibrium in trade models with durable goods
• The von Neumann facet and a global asymptotic stability
• Equilibrium Turnpike Theory with Constant Returns to Scale and Possibly Heterogeneous Discount Factors
• Destabilization effect of international trade in a perfect foresight dynamic general equilibrium model
• On the Dual Stability of a Von Neumann Facet and the Inefficacy of Temporary Fiscal Policy

Cites work

• scientific article; zbMATH DE number 4081254 (Why is no real title available?)
• An integration of equilibrium theory and turnpike theory
• Competitive Equilibria on Turnpikes in a McKenzie Economy, II: An Asymptotic Turnpike Theorem
• Competitive Equilibria on Turnpikes in a Mckenzie Economy, I: A Neighborhood Turnpike Theorem
• Equilibrium Turnpike Theory with Constant Returns to Scale and Possibly Heterogeneous Discount Factors
• On optimal steady states of n-sector growth models when utility is discounted
• Smoothness, Comparative Dynamics, and the Turnpike Property
• The Dorfman-Samuelson-Solow Turnpike Theorem
• The primal route to the turnpike and asymptotic stability
• Turnpike theory, discounted utility, and the von Neumann facet

Cited in

(6)

• On the Dual Stability of a Von Neumann Facet and the Inefficacy of Temporary Fiscal Policy
• International linkage of inflation rates in a dynamic general equilibrium
• Destabilization effect of international trade in a perfect foresight dynamic general equilibrium model
• Temporary transfers in a simple dynamic general equilibrium model
• Multiplicity and stability of equilibrium in trade models with durable goods
• General existence of competitive equilibrium in the growth model with an endogenous labor-leisure choice

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