„Strong” Turnpike Effect in the Gale Economic Dynamics Model. Finite State Growth Problem Cover Image

„Silny” efekt magistrali w modelu dynamiki ekonomicznej typu Gale’a. Zagadnienie wzrostu docelowego
„Strong” Turnpike Effect in the Gale Economic Dynamics Model. Finite State Growth Problem

Author(s): Emil Panek
Subject(s): Economy
Published by: Główny Urząd Statystyczny
Keywords: Gale model; von Neumann equilibrium; „weak”, „strong” and „very strong” turnpike theorem

Summary/Abstract: This paper, in reference to articles Panek (2003) chapt. 5 and Panek, Runka (2011) presents proof of the “strong” turnpike effect in the Gale – type economic dynamic model, assuming that the production processes efficiency in the economy is the lower the more the investment structure in such processes differs from the optimum.

  • Issue Year: 60/2013
  • Issue No: 4
  • Page Range: 447-460
  • Page Count: 14
  • Language: Polish