Emil Panek
ARTICLE

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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.

KEYWORDS

Gale model, von Neumann equilibrium, „weak”, „strong” and „very strong” turnpike theorem

REFERENCES

[1] Khan M. A. and Piazza A., (2011), An Overview of Turnpike Theory: Towards the Discounted Deterministic Case, Adv. Math. Econ., 14, 39–68.

[2] Makarow W. L., Rubinow A. M., (1973), Matiematiczeskaja tieoria ekonomiczeskoj dynamiki i rawnowiesija, Nauka, Moskwa.

[3] McKenzie L. W., (1976), Turnpike theory, Econometrica, 841–866.

[4] McKenzie L. W., (2005), Optimal Economic Growth, Turnpike Theorems and Comparative Dynamics, w: Arrow K. J., Intriligator M. D., (red.), Handbook of Mathematical Economics, edition 2, vol. III, chapter 26, 1281–1355.

[5] Nikaido H., (1968), Convex Structures and Economic Theory, Acad. Press, New York

[6] Panek E., (2003), Ekonomia matematyczna, Wydawnictwo AE w Poznaniu.

[7] Panek E., (2011), O pewnej wersji „słabego” twierdzenia o magistrali w modelu von Neumanna, Przegląd Statystyczny, 58, 1–2, 75–87.

[8] Panek E., Runka H. J., (2011), Efekt magistrali w gospodarce Gale’a. Wersja szczególna, w: Panek E., (red.), Matematyka i informatyka na usługach ekonomii. Modelowanie zjawisk gospodarczych. Elementy teorii, Wydawnictwo UEP, Poznań, 220–231.

[9] Takayama A., (1985), Mathematical Economics, Cambridge Univ. Press, Cambridge.

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