Open Access

“Very strong” turnpike effect in a non-stationary Gale economy with investments, multilane turnpike and limit technology

   | Jan 26, 2024

Cite

Babaei, E. (2020). Von Neumann-Gale dynamical systems with applications in economics and finance. University of Manchester. Search in Google Scholar

Babaei, E., Evstigneev I. V., Reiner Schenk-Hoppe, K., & Zhitlukhin, M. (2020). Von Neumann-Gale dynamics and capital growth in financial markets with frictions. Mathematics and Financial Economics, 14(2), 283–305. Search in Google Scholar

Cartigny, P., & Venditti, A. (1994). Turnpike theory: Some new results in the saddle point property of equilibria and on the existence of endogenous cycles. Journal of Economic Dynamics and Control, 18(5), 957–974. Search in Google Scholar

Dai, D., & Shen, K. (2013). A turnpike theorem involving a modified Golden Rule. Theoretical and Applied Economics, 20(11), 25–40. Search in Google Scholar

Giorgi, G., & Zuccotti, C. (2016). Equilibrium and optimality in Gale-von Neumann Models. DEM Working Papers, 118. University of Pavia. Search in Google Scholar

Heiland, J., & Zuazua, E. (2021). Classical system theory revisited for turnpike in standard state space systems and impulse controllable descriptor systems. SIAM Journal on Control and Optimization, 59(5), 3600–3624. Search in Google Scholar

Jensen, M. K. (2012). Global stability and the “turnpike” in optimal unbounded growth models. Journal of Economic Theory, 147(2), 802–832. Search in Google Scholar

Khan, M. A., & Piazza, A. (2011). An overview of turnpike theory: Towards the discounted deterministic case. In S. Kusuoka & T. Maruyama (Eds.), Advanced in mathematical economics (vol. 14, pp. 39–67). Springer. Search in Google Scholar

Majumdar, M. (2009). Equilibrium and optimality: Some imprints of David Gale. Games and Economic Behavior, 66(2), 607–626. Search in Google Scholar

Makarov, V. L., & Rubinov, A. M. (1977). Mathematical theory of economic dynamics and equilibria, Springer-Verlag. Search in Google Scholar

McKenzie, L. W. (1976). Turnpike theory. Econometrica, 44(5), 841–865. Search in Google Scholar

McKenzie, L. W. (1998). Turnpikes. American Economic Review, 88(2), 1–14. Search in Google Scholar

McKenzie, L. W. (2005). Optimal economic growth, turnpike theorems and comparative dynamics. In K. J. Arrow & M. D. Intriligator (Eds.), Handbook of mathematical economics (2nd ed., vol. 3, chapter 26, pp 1281–1355). Elsevier. Search in Google Scholar

Mitra, T., & Nishimura, K. (Eds.). (2009). Equilibrium, trade and growth. selected papers of L.W. McKenzie. The MIT Press. Search in Google Scholar

Nikaido, H. (1968). Convex structures and economic theory. Academic Press. Search in Google Scholar

Panek, E. (2000). Ekonomia matematyczna. Wydawnictwo Akademii Ekonomicznej w Poznaniu. Search in Google Scholar

Panek, E. (2016). Gospodarka Gale’a z wieloma magistralami. „Słaby” efekt magistrali. Przegląd Statystyczny, 63(4), 355–374. Search in Google Scholar

Panek, E. (2017). „Słaby” efekt magistrali w niestacjonarnej gospodarce Gale’a z graniczną technologią i wielopasmową magistralą produkcyjną. W: D. Appenzeller (red.), Matematyka i informatyka na usługach ekonomii (pp. 91–110). Wydawnictwo Uniwersytetu Ekonomicznego w Poznaniu. Search in Google Scholar

Panek, E. (2018). Niestacjonarna gospodarka Gale’a z graniczną technologią i wielopasmową magistralą produkcyjną. „Słaby”, „silny” i „bardzo silny” efekt magistrali. Przegląd Statystyczny, 65(4), 373–393. Search in Google Scholar

Panek, E. (2019a). O pewnej wersji twierdzenia o wielopasmowej magistrali w niestacjonarnej gospodarce Gale’a, Przegląd Statystyczny, 66(2), 142–156. Search in Google Scholar

Panek, E. (2019b). Non-stationary Gale economy with limit technology, multilane turnpike and general form of optimality criterion”. Argumenta Oeconomica Cracoviensia, 1(20), 9–22. Search in Google Scholar

Panek, E. (2019c). Optimal growth processes in non-stationary Gale economy with multilane production turnpike. Economic and Business Review, 2(5), 3–23. Search in Google Scholar

Panek, E. (2020a). A multilane turnpike in a non-stationary input-output economy with a temporary von Neumann equilibrium. Statistical Review, 67(1), 77–92. Search in Google Scholar

Panek, E. (2020b). Almost “very strong” multilane turnpike effect in the non-stationary Gale economy with a temporary von Neumann equilibrium and price constraints. Economic and Business Review, 6(2), 66–80. Search in Google Scholar

Panek, E. (2022). Gale economy with investments and limiting technology. Central European Journal of Economic Modelling and Econometrics, 14(1), 57–80. Search in Google Scholar

Radner, R. (1961). Path of economic growth that are optimal with regard to final states: A turnpike theorem. Review of Economic Studies, 28(2), 98–104. Search in Google Scholar

Sakamoto, N., Pighin, D., & Zuazua, E. (2019). The turnpike property in nonlinear optimal control—a geometric approach. Proceedings of 58th IEEE Conference on Decision and Control. https://doi.org/10.1109/CDC40024.2019.9028863 Search in Google Scholar

Takayama, A. (1985). Mathematical economics. Cambridge University Press. Search in Google Scholar

Zaslavski, A. J. (2015). Turnpike theory of continuous-time linear control problems. Springer-Verlag. Search in Google Scholar

eISSN:
2450-0097
Language:
English
Publication timeframe:
4 times per year
Journal Subjects:
Business and Economics, Political Economics, other, Finance, Mathematics and Statistics for Economists, Econometrics