Paths of optimal accumulation in two-sector models
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Paths of optimal accumulation in two-sector models by Michele Boldrin

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Published by Institute for Mathematical Studies in the Social Sciences, Stanford University in Stanford, Calif .
Written in English

Subjects:

  • Social sciences -- Mathematical models.

Book details:

Edition Notes

Statementby Michele Bolrin.
SeriesTechnical report / Institute for Mathematical Studies in the Social Sciences, Stanford University -- no. 502, Economics series / Institute for Mathematical Studies in the Social Sciences, Stanford University, Technical report (Stanford University. Institute for Mathematical Studies in the Social Sciences) -- no. 502., Economics series (Stanford University. Institute for Mathematical Studies in the Social Sciences)
The Physical Object
Pagination52 p. ;
Number of Pages52
ID Numbers
Open LibraryOL22410228M

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“Sceptical Notes on Uzawa’s ‘Optimal Growth in a Two-Sector Model of Capital Accumulation’, and a Precise Characterization of the Optimal Path.” The Review of Economic Studies –   AbstractWe study the two-sector Robinson-Shinkai-Leontief (RSL) model of discrete-time optimal economic growth for the case of capital-intensive consumption goods. We frame the model in the context of Nishimura’s oeuvre, and more specifically, relate it to its neoclassical cousin: the Uzawa-Srinivasan continuous-time version studied in Haque, W. Author: Liuchun Deng, Minako Fujio, M. Ali Khan. Solow[14] explored, with some models, the inter generational problem of optimal capital accumulation by straightforward application of the max-min principle. Michele Boldrin, "Paths of Optimal Accumulation in Two-Sector Models," UCLA Economics Working Papers , UCLA Department of Economics. Olson, Lars J. & Roy, Santanu, "Theory of Stochastic Optimal Economic Growth," Working Papers , University of Maryland, Department of Agricultural and Resource Economics. Darong Dai,

This study presents a two-sector optimal growth model with Cobb-Douglas production functions in which optimal dynamics exhibits sharp non-linearity giving rise to cyclical optimal paths. This result demonstrates that such optimal paths may appear for any value of the discount factor of future by: In the existing literature, two types of models are known to have chaotic optimal paths. The examples of Denerckere and Pelikan (), Boldrin and Montrucchio (b) and Boldrin and Deneckere () are based on two-sector models while that of Majumdar and Mitra (Chapter 3) Cited by: Paths of optimal accumulation in two-sector models by Michele Boldrin 1 edition Subjects. Intellectual property, Mathematical models, Monopolies, Technological innovations, Business cycles , Accessible book, Aspect économique, Business, Business & Economics, Business / Economics / Finance. 5. “Paths of Optimal Accumulation in a Two--Sector Model”, in t et al. (eds.) Economic Complexity: Chaos, Sunspots, Bubbles and Nonlinearity, Cambridge, Cambridge University Press, 6. “Sources of Complex Dynamics in Two--Sector Models” (with ere), Journal of Economic Dynamics and Control, 14 ().

Biography. David Cass was born in in Honolulu, earned an A.B. in economics from the University of Oregon in and started to study law at the Harvard Law School as he thought of becoming a lawyer according to family tradition. As he hated studying law he left the program after one year and served in the army from to The properties of the optimal growth path are investigated in a two-sector economy model. The objective is the attainment of the von Neumann path in minimum time, and the optimal strategy is given. In order to characterize and establish the optimality of the path, an extensive use . Multisector Capital Accumulation Models The von Neumann and Malinvaud Models ; The Feasible Correspondence ; The Existence and Sensitivity of Optimal Paths The Maximum Theorem ; Optimal Paths ; Recursive Dynamic Programming Dynamic Programming with TAS Utility ; Recursive Utility and Multisector Models. whether the two-sector and multi-sector optimal growth models could explain properly the economic development based on the empirical data. Although we have witnessed fairly active theoretical research on two-sector and multi-sector growth models in the s and recent years, R. M. Solow has thrown doubt on the capital-intensities in Solow ().