Stability and turnpike theorems in dynamic competitive equilibrium

Japanese Economic Review

Volumn 50, Issue 4, 1999, Pages 398-421

  Yano, Makoto ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

COMPETITIVENESS; CONVERGENCE; ECONOMIC THEORY;

EID: 0033390926     PISSN: 13524739     EISSN: None     Source Type: Journal    
DOI: 10.1111/1468-5876.00129     Document Type: Article

References (27)

1. Becker, R. (1980) "On the Long-Run Steady State in a Simple Dynamic Model of Equilibrium with Heterogeneous Households", Quarterly Journal of Economics, Vol. 95, pp. 375-382.
2. Bewley, T. (1982) "An Integration of Equilibrium Theory and Turnpike Theory", Journal of Mathematical Economics, Vol. 10, pp. 233-267.
3. Boldrin, M. and L. Montrucchio (1986) "On the Indeterminacy of Capital Accumulation Paths", Journal of Economic Theory, Vol. 40, pp. 26-39.
4. Cass, D. and K. Shell (1976) "The Structure and Stability of Competitive Dynamic Systems", Journal of Economic Theory, Vol. 12, pp. 31-70.
5. Coles, J. (1985) "Equilibrium Turnpike Theory with Constant Returns to Scale and Possibly Heterogeneous Discount Factors", International Economic Review, Vol. 26, pp. 671-680.
6. Epstein, L. (1987) "A Simple Dynamic General Equilibrium Model", Journal of Economic Theory, Vol. 41, pp. 68-95.
7. Lucas, R. and N. Stokey (1984) "Optimal Growth with Many Consumers", Journal of Economic Theory, Vol. 32, pp. 139-171.
8. Marimon, R. (1989) "Stochastic Turnpike Property and Stationary Equilibrium", Journal of Economic Theory, Vol. 47, pp. 282-306.
9. McKenzie, L. (1959) "On the Existence of General Equilibrium for a Competitive Market", Econometrica, Vol. 27, pp. 54-71.
10. _ (1963) "The Dorfman-Samuelson-Solow Turnpike Theorem", International Economic Review, Vol. 4, pp. 29-43.
11. _ (1968) "Accumulation Programs of Maximum Utility and the von Neumann Facet", in J. N. Wolfe (ed.), Value, Capital and Growth, Edinburgh: Edinburgh University Press.
12. _ (1982) "A Primal Route to the Turnpike and Liapounov Stability", Journal of Economic Theory, Vol. 27, pp. 194-209.
13. _ (1983) "Turnpike Theory, Discounted Utility, and the von Neumann Facet", Journal of Economic Theory, Vol. 30, pp. 30-52.
14. _ (1998) "Turnpikes", American Economic Review, Vol. 88, pp. 1-14.
15. Negishi, T. (1960) "Welfare Economics and Existence of an Equilibrium for Competitive Economy", Metroeconomica, Vol. 12, pp. 92-97.
16. Scheinkman, J. (1976) "On Optimal Steady States of n-Sector Growth Models when Utility is Discounted", Journal of Economic Theory, Vol. 12, pp. 11-20.
17. Takahashi, H. (1985) "Characterization of Optimal Path in Infinite Economies", PhD dissertation, University of Rochester, New York.
18. Yano, M. (1984a) "The Turnpike of Dynamic General Equilibrium Paths and its Insensitivity to Initial Conditions", Journal of Mathematical Economics, Vol. 13, pp. 235-254.
19. _ (1984b) "Competitive Equilibria on Turnpikes in a McKenzie Economy, I: A Neighborhood Turnpike Theorem", International Economic Review, Vol. 25, pp. 695-717.
20. _ (1984c) "The Primal Route to the Turnpike and Asymptotic Stability", Journal of Mathematical Economics, Vol. 13, pp. 225-234.
21. _ (1985) "Competitive Equilibria on Turnpikes in a McKenzie Economy, II: An Asymptotic Turnpike Theorem", International Economic Review, Vol. 26, pp. 661-670.
22. _ (1989) "Comparative Statics in Dynamic Stochastic Models: Differential Analysis of a Stochastic Modified Golden Rule State in a Banach Space", Journal of Mathematical Economics, Vol. 18, pp. 169-185.
23. _ (1990a) "Teoria del equilibrio con sendas convergentes", Cuadernos Economicos, Vol. 46, pp. 27-59.
24. _ (1990b) "Von Neumann Facets and the Dynamic Stability of Perfect Foresight Equilibrium Paths in Neo-Classical Trade Models", Journal of Economics, Vol. 51, pp. 27-69.
25. _ (1991) "Temporary Transfers in a Simple Dynamic General Equilibrium Model", Journal of Economic Theory, Vol. 54, pp. 372-388.
26. _ (1998a) "On the Dual Stability of a von Neumann Facet and the Inefficacy of Temporary Fiscal Policy", Econometrica, Vol. 66, pp. 427-451.
27. _ (1998b) "On Temporary and Permanent Fiscal Policies in General Equilibrium Models" (in Japanese: Ippan Kinko Modem niokeru Zaisei Seisaku no Itijisei to Kokyusei nitsuite), in M. Ohtsuki et al., eds, Gendai Keizaigaku no Choryu 1998, pp. 77-110, Tokyo: Toyokeizai.