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

PDF
MPRA_paper_41891.pdf Download (342kB)  Preview 


PDF
Uniformly_Bounded_Trajectories.pdf Download (342kB)  Preview 
Abstract
This paper shows that under classical assumptions on technological mapping and presence of an indispensable production factor there is a bound on longterm 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 

Original Title:  Uniform boundedness of feasible per capita output streams under convex technology and nonstationary labor 
Language:  English 
Keywords:  boundedness of trajectories, output path, multisector 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 
Item ID:  41891 
Depositing User:  Piotr Maćkowiak 
Date Deposited:  13. Oct 2012 16:54 
Last Modified:  24. Nov 2015 08:02 
References:  W. Brock, On existence of weaklymaximal programmes in a multisector economy. Review of Economic Studies, 37:275280, 1970. D.Gale. On optimal development in a multisector economy. Review of Economic Studies, 34:118, 1967. S.Joshi. Existence in undiscounted nonstationary nonconvex multisector environments. Journal of Mathematical Economics, 28:111126, 1997. V.Levin. Some applications of setvalued mappings in mathematical economics. Journal of Mathematical Economics, 20:6987, 1991. R.Lucas, N.Stokey. Recursive Methods in Economic Dynamics. Academic Press, 1989. P.Ma\'ckowiak. Some remarks on lower hemicontinuity of convex multivalued mappings. To appear in: Economic Theory. \bibitem{McKenzie1986} L.~McKenzie. \newblock Optimal economic growth, turnpike theorems and comparative dynamics. \newblock w: {\em Handbook of Mathematical Economics, Vol.~4} (red. K.~Arrow, M.~Intriligator), strony 12811353. Elsevier Science Publishers, 1986. \bibitem{Nikaido1968} H.~Nikaido. \newblock {\em Convex Structures and Economic Theory}. \newblock Academic Press, 1968. \bibitem{PelegRyder1972} B.~Peleg, H.~Ryder. \newblock On optimal consumption plans in a~multisector economy. \newblock {\em Review of Economic Studies}, 39:159169, 1972. 
URI:  https://mpra.ub.unimuenchen.de/id/eprint/41891 