<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The topic of the paper is relevant in the field of optimal growth theory and therefore might be seen as an intellectual underpinning for research and practice in the field of transition economies and sustainable long-time development as well. It refers to the papers Panek (2015a, 2018) devoted to asymptotic properties of optimal growth properties in the non-stationary Gale type economy with single and multi-lane turn-pikes in which it was assumed that changing production technology converges in time with certain limits of technology. As far as the postulate of a non-stationary economy (here: technology change) is consistent with real processes, the hypothesis of the existence of some limiting technology may raise controversies and be difficult to verify.</p><p>In the paper, referring to the above mentioned publications and Panek (2014), a Gale-type economy with changing technology, multi-lane turnpike and time-increasing production efficiency, with no assumption concerning the existence of a limit technology will be examined.</p></abstract>

The topic of the paper is relevant in the field of optimal growth theory and therefore might be seen as an intellectual underpinning for research and practice in the field of transition economies and sustainable long-time development as well. It refers to the papers Panek (2015a, 2018) devoted to asymptotic properties of optimal growth properties in the non-stationary Gale type economy with single and multi-lane turn-pikes in which it was assumed that changing production technology converges in time with certain limits of technology. As far as the postulate of a non-stationary economy (here: technology change) is consistent with real processes, the hypothesis of the existence of some limiting technology may raise controversies and be difficult to verify.In the paper, referring to the above mentioned publications and Panek (2014), a Gale-type economy with changing technology, multi-lane turnpike and time-increasing production efficiency, with no assumption concerning the existence of a limit technology will be examined.

Optimal growth processes in a non-stationary Gale economy with a multilane production turnpike

Poznań University of Economics and Business

Faculty of Informatics and Electronic Economy, Department of Mathematical Economics

Economics and Business Review

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

The topic of the paper is relevant in the field of optimal growth theory and therefore might be seen as an intellectual underpinning for research and practice...

Optimal growth processes in a non-stationary Gale economy with a multilane production turnpike

Data publikacji: 09 lip 2019

Zakres stron: 3 - 23

Otrzymano: 15 lut 2019

Przyjęty: 05 kwi 2019

DOI: https://doi.org/10.18559/ebr.2019.2.1

Słowa kluczowe
non-stationary Gale’s economy, von Neumann’s temporary equilibrium, multi-lane turnpike

© 2019 Emil Panek, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Optimal growth processes in a non-stationary Gale economy with a multilane production turnpike

Data publikacji: 09 lip 2019

Zakres stron: 3 - 23

Otrzymano: 15 lut 2019

Przyjęty: 05 kwi 2019

DOI: https://doi.org/10.18559/ebr.2019.2.1

Słowa kluczowenon-stationary Gale’s economy, von Neumann’s temporary equilibrium, multi-lane turnpike

© 2019 Emil Panek, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Słowa kluczowe
non-stationary Gale’s economy, von Neumann’s temporary equilibrium, multi-lane turnpike