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Agency Costs in Dynamic Economic Models

โœ Scribed by Costas Azariadis; Shankha Chakraborty


Book ID
108557198
Publisher
John Wiley and Sons
Year
1999
Tongue
English
Weight
495 KB
Volume
109
Category
Article
ISSN
0013-0133

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The origin of cyclical motion in dynamic
โœ Michael J.P. Magill ๐Ÿ“‚ Article ๐Ÿ“… 1979 ๐Ÿ› Elsevier Science ๐ŸŒ English โš– 793 KB

This paper examines the origin of cyclical motion in a class of deterministic infinite horizon problems that arise in dynamic economics. For this class of problems the optimal solution converges to a unique equilibrium point. Conditions are given under which the motion in a โ€ข neighbourhood of the eq