Dai, Darong (2011): Stochastic Versions of Turnpike Theorems in the Sense of Uniform Topology. Forthcoming in: Annals of Economics and Finance

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Abstract
In this paper, a stochastic endogenous aggregative growth model is constructed and two main results are established, based on endogenous horizon of the economy and endogenous terminal capital stock, which is also efficient capital accumulation in some sense. First, strong turnpike theorems under uncertainty and in the sense of uniform topology are obtained; second, inefficacy of temporary fiscal policy, which is chosen to be capital income taxation, has been demonstrated in comparatively weak conditions different from Yano (1998)’s.
Item Type:  MPRA Paper 

Original Title:  Stochastic Versions of Turnpike Theorems in the Sense of Uniform Topology 
English Title:  Stochastic Versions of Turnpike Theorems in the Sense of Uniform Topology 
Language:  English 
Keywords:  Stochastic endogenous growth; Uniformtopology turnpike theorems; Endogenous terminal stock; Endogenous welfare function; Capital income taxation 
Subjects:  E  Macroeconomics and Monetary Economics > E6  Macroeconomic Policy, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook > E62  Fiscal Policy E  Macroeconomics and Monetary Economics > E2  Macroeconomics: Consumption, Saving, Production, Employment, and Investment > E22  Capital; Investment; Capacity C  Mathematical and Quantitative Methods > C6  Mathematical Methods; Programming Models; Mathematical and Simulation Modeling > C61  Optimization Techniques; Programming Models; Dynamic Analysis E  Macroeconomics and Monetary Economics > E2  Macroeconomics: Consumption, Saving, Production, Employment, and Investment > E21  Consumption; Saving; Wealth C  Mathematical and Quantitative Methods > C6  Mathematical Methods; Programming Models; Mathematical and Simulation Modeling > C62  Existence and Stability Conditions of Equilibrium 
Item ID:  40216 
Depositing User:  darong dai 
Date Deposited:  22. Jul 2012 12:10 
Last Modified:  13. Feb 2013 06:11 
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URI:  http://mpra.ub.unimuenchen.de/id/eprint/40216 