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Reaching the turnpike path of balanced growth in the model of a closed decentralized economy

✍ Scribed by A. P. Abramov


Book ID
111474466
Publisher
SP MAIK Nauka/Interperiodica
Year
2009
Tongue
English
Weight
140 KB
Volume
1
Category
Article
ISSN
2070-0482

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The general instability of balanced path
✍ Marı́a Pilar Martı́nez-Garcı́a πŸ“‚ Article πŸ“… 2003 πŸ› Elsevier Science 🌐 English βš– 166 KB

We prove the instability of optimal balanced paths in endogenous growth models, as long as transversality conditions are satisΓΏed. Moreover, we prove the complete instability of models with one state variable, whereas, in models with two and three state variables, we o er necessary and su cient cond