The von Neumann facet and a global asymptotic stability
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The author considers a multi-sector discrete-time optimal growth model with neoclassical non-joint technology and shows that any path on an \(n\)- dimensional flat supported by the optimal steady state price will converge to the optimal steady state and is optimal.
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Cites work
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- On optimal steady states of n-sector growth models when utility is discounted
- Optimal Savings in a Two-Sector Model of Growth
- Price expectations and global stability in economic systems
- Sceptical Notes on Uzawa's "Optimal Growth in a Two-Sector Model of Capital Accumulation", and a Precise Characterization of the Optimal Path
- State equation, controllability, and maximal matchings of petri nets
- Sufficient Conditions for the Optimal Control of Nonlinear Systems
- The Hopf bifurcation and the existence and stability of closed orbits in multisector models of optimal economic growth
- Turnpike theory, discounted utility, and the von Neumann facet
Cited in
(7)- scientific article; zbMATH DE number 4016552 (Why is no real title available?)
- scientific article; zbMATH DE number 3956767 (Why is no real title available?)
- On the Dual Stability of a Von Neumann Facet and the Inefficacy of Temporary Fiscal Policy
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