Emil Panek
ARTICLE

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ABSTRACT

Papers Panek (2013a, 2013b) prove „weak” and „very strong” turnpike theorem in the Neumann- Gale model of the economic dynamics with changeable technology convergent to some limit technology. The economy achieves the highest growth rate on the production turnpike determined by the limit technology, nevertheless the growth rate is constant (time-invariant). This article presents proofs of the turnpike properties of the optimal processes in such a non-stationary Gale economy, in which – in contrast to the above-mentioned papers production growth rate on the turnpike is increasing due to technological progress.

KEYWORDS

non-stationary Gale model, von Neumann temporary equilibrium, production turnpike, „weak” and „very strong” turnpike theorem

REFERENCES

Czeremnych J. N., (1982), Analiz powiedienija tra jektorii dynamiki narodnochoziajstwien- nych modeliej, Nauka, Moskwa.

Gantz D. T., (1980), A Strong Turnpike Theorem for a Nonstationary von Neumann-Gale Production Model, Econometrica, 48 (7), 1777–90.

Gale D., (1956), The Closed Linear Model of Production, w: Kuhn H. W., Tucker A. W., (red.), Linear Inequalities and Related Systems, Princeton Univ, Press, Princeton, 285–303.

Keeler E. B. (1972), A Twisted Turnpike, International Economic Review, 13 (1), 160–166.

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

Panek E., (2003), Ekonomia Matematyczna, Wyd. AEP, Poznań.

Panek E., (2013a), Niestacjonarny model von Neumanna z graniczną technologią, Studia Oeconomica Posnaniensia, 1 (1), 49–68.

Panek E., (2013b), „Słaby” i „bardzo silny” efekt magistrali w niestacjonarnej gospodarce Gale’a z graniczną technologią, Przegląd Statystyczny, 60 (3), 291–303.

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