Dai, Darong
(2012):
*A Robust Turnpike Deduced by Economic Maturity.*

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## Abstract

In the paper, a one-sector neoclassical model with stochastic growth has been constructed. The key concept of economic maturity is well-defined in the abstract model economy, and also a thorough characterization of the minimum time needed to economic maturity is supplied for the first time. Moreover, it is confirmed that the capital-labor ratio corresponding to the state of economic maturity indeed provides us with a robust turnpike of the optimal path of capital accumulation.

Item Type: | MPRA Paper |
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Original Title: | A Robust Turnpike Deduced by Economic Maturity |

English Title: | A Robust Turnpike Deduced by Economic Maturity |

Language: | English |

Keywords: | Stochastic growth; Economic maturity; Asymptotic turnpike theorem; Neighborhood turnpike theorem; Robustness. |

Subjects: | C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C60 - General E - Macroeconomics and Monetary Economics > E1 - General Aggregative Models > E13 - Neoclassical E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy > E22 - Investment ; Capital ; Intangible Capital ; Capacity |

Item ID: | 48818 |

Depositing User: | darong dai |

Date Deposited: | 04 Aug 2013 16:23 |

Last Modified: | 02 Oct 2019 17:35 |

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URI: | https://mpra.ub.uni-muenchen.de/id/eprint/48818 |