Uniform boundedness of feasible per capita output streams under convex technology and non-stationary labor

Maćkowiak, Piotr (2004): Uniform boundedness of feasible per capita output streams under convex technology and non-stationary labor.

Abstract

This paper shows that under classical assumptions on technological mapping and presence of an indispensable production factor there is a bound on long-term per capita production. The bound does not depend on initial state of economy. It is shown that all feasible processes converge uniformly over every bounded set of initial inputs p.c. to some set (dependent on technology).

• Item Type: MPRA Paper
• Language: English
• Keywords: boundedness of trajectories, output path, multi-sector growth model
• Subjects: O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O41 - One, Two, and Multisector Growth Models; C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C61 - Optimization Techniques ; Programming Models ; Dynamic Analysis

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