Warianty tytułu
Języki publikacji
Abstrakty
Here we prove the goodness property of adaptive rolling plans in a multisector optimal growth model under decreasing returns in deterministic environment. Goodness is achieved as a result of fast convergence (at an asymptotically geometric rate) of the rolling plan to balanced growth path. Further on, while searching for goodness, we give a new proof of strong concavity of an indirect utility function – this result is achieved just with help of some elementary matrix algebra and differential calculus.(original abstract)
Słowa kluczowe
Twórcy
autor
- Poznań University of Economics, Poland
Bibliografia
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- Venditti, A., Strong concavity properties of indirect utility functions in multisector optima growth models, “Journal of Economic Theory” 74, pp. 349-367, 1997.
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Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000168967900