Non-Stationary von Neumann Model whit Limit Technology
DOI:
https://doi.org/10.18559/dzzb2385Keywords:
Technological processes, Technological development, Production effectivenessAbstract
The vast majority of papers on the turnpike theory consider a stationary economy with constant technology (over time). There are only few attempts to go beyond the "vicious circle" of stationarity and to trace the so called turnpike effect in a non-stationary Neumann-Gale economy with unstable technology. This article undertakes this task. In the paper "weak" and "very strong" versions of the turnpike theorem in a non-stationary von Neumann economy are presented, with the technology converging to a certain technology limit.
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References
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