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 stabilitystability propertiesneo-classical production functionsperfect foresight equilibrium pathtime-phased trade modelsvon Neumann facets

Mathematics Subject Classification ID

Lyapunov and other classical stabilities (Lagrange, Poisson, (L^p, l^p), etc.) in control theory (93D05) Multisectoral models in economics (91B66) Economic growth models (91B62)

Related Items (4)

International linkage of inflation rates in a dynamic general equilibrium ⋮ Destabilization effect of international trade in a perfect foresight dynamic general equilibrium model ⋮ General existence of competitive equilibrium in the growth model with an endogenous labor-leisure choice ⋮ Temporary transfers in a simple dynamic general equilibrium model

Cites Work

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• 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

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