𝔖 Bobbio Scriptorium
✦   LIBER   ✦

Global stability and the “turnpike” in optimal unbounded growth models

✍ Scribed by Martin Kaae Jensen


Book ID
113708212
Publisher
Elsevier Science
Year
2012
Tongue
English
Weight
282 KB
Volume
147
Category
Article
ISSN
0022-0531

No coin nor oath required. For personal study only.


📜 SIMILAR VOLUMES


Uncertain horizon and stability: Analysi
✍ Itzhak Zilcha 📂 Article 📅 1987 🏛 Elsevier Science 🌐 English ⚖ 404 KB

In a one-sector optimal growth model with uncertainty about production optimal capital stocks converge in distribution to a stochastic modified golden rule [see, for example Brock and Mirman (1972,1973)]. We show that such a result cannot be obtained, in general, if in addition to the random one-per