Takahashi, Harutaka (2010): Global analysis of the growth and cycles of multisector economies with constant returns: A turnpike approach.

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Abstract
In Section 1, we explain the neoclassical optimal growth model, which includes multi capital goods, and is derived from neoclassical production functions; the transformations to the reduced model are also explained. Section 2 pertains to the explanation of the methods for proving the consumption turnpike theorem demonstrated by Scheinkman (1976) and McKenzie (1983). Also, the case in which the essentials of the von NeumannMcKenzie facet, which plays an important role in the next part, became a twosector model and is explained using figures. In Section 3, we postulate a twosector neoclassical optimal growth model, and the optimal path behavior in the vicinity of the optimal steady state path (modified golden rule path) are classified using the characteristics of von NeumannMcKenzie facet. Also, we will use these results to prove, based on a weaker hypothesis, that the theorem that the optimal path local stability and the optimal path attained by Benhabib and Nishimura（1985）becomes a twoterm periodic solution. In Section 4, the generalization of the global asymptotic stability conclusion achieved with two divisions into a case that includes two or more types of capital goods. In Addendum, the important fundamental principles used in the main text will be defined, and a number of theorems will be proved.
Item Type:  MPRA Paper 

Original Title:  Global analysis of the growth and cycles of multisector economies with constant returns: A turnpike approach 
Language:  English 
Keywords:  multisector model; turnpike theory; optimal growth; the NeumannMcKednzie facet 
Subjects:  O  Economic Development, Technological Change, and Growth > O4  Economic Growth and Aggregate Productivity > O41  One, Two, and Multisector Growth Models D  Microeconomics > D2  Production and Organizations > D24  Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity O  Economic Development, Technological Change, and Growth > O2  Development Planning and Policy > O21  Planning Models; Planning Policy 
Item ID:  24860 
Depositing User:  Harutaka Takahashi 
Date Deposited:  10. Sep 2010 17:26 
Last Modified:  12. Feb 2013 13:52 
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URI:  http://mpra.ub.unimuenchen.de/id/eprint/24860 