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

DOI10.1007/BF01227366zbMath0689.90016MaRDI QIDQ582192

Makoto Yano

Publication date: 1990

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

zbMATH Keywords

asymptotic stability; stability properties; neo-classical production functions; perfect foresight equilibrium path; time-phased trade models; von Neumann facets

Mathematics Subject Classification ID

93D05: Lyapunov and other classical stabilities (Lagrange, Poisson, (L^p, l^p), etc.) in control theory

91B66: Multisectoral models in economics

91B62: Economic growth models

Related Items

International linkage of inflation rates in a dynamic general equilibrium, Temporary transfers in a simple dynamic general equilibrium model, Destabilization effect of international trade in a perfect foresight dynamic general equilibrium model

Cites Work

• Unnamed Item
• An integration of equilibrium theory and turnpike theory
• Turnpike theory, discounted utility, and the von Neumann facet
• The primal route to the turnpike and asymptotic stability
• On optimal steady states of n-sector growth models when utility is discounted
• Equilibrium Turnpike Theory with Constant Returns to Scale and Possibly Heterogeneous Discount Factors
• Competitive Equilibria on Turnpikes in a Mckenzie Economy, I: A Neighborhood Turnpike Theorem
• Competitive Equilibria on Turnpikes in a McKenzie Economy, II: An Asymptotic Turnpike Theorem
• The Dorfman-Samuelson-Solow Turnpike Theorem
• Smoothness, Comparative Dynamics, and the Turnpike Property