The minimal-time growth problem and turnpike effect in the stationary Gale economy
In mathematical economics there is a number of so called “turnpike theorems” proved mainly on the basis of multiproduct models of economic dynamics. According to these theorems, all optimal paths of economic growth over a long period of time converge to a certain path (turnpike) in which the economy...
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| Format: | Article |
| Language: | English |
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Sciendo
2021-03-01
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| Series: | Economics and Business Review |
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| Online Access: | https://doi.org/10.18559/ebr.2021.1.2 |