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An Integration of Equilibrium Theory and Turnpike Theory

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  • Truman Bewley

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  • Truman Bewley, 2010. "An Integration of Equilibrium Theory and Turnpike Theory," Levine's Working Paper Archive 1381, David K. Levine.
    • Handle: RePEc:cla:levarc:1381
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    1. Brock, William A. & Scheinkman, JoseA., 1976. "Global asymptotic stability of optimal control systems with applications to the theory of economic growth," Journal of Economic Theory, Elsevier, vol. 12(1), pages 164-190, February.
    2. Cass, David & Shell, Karl, 1976. "The structure and stability of competitive dynamical systems," Journal of Economic Theory, Elsevier, vol. 12(1), pages 31-70, February.
    3. Truman F. Bewley, 1980. "An Integration of Equilibrium Theory and Turnpike Theory," Discussion Papers 405, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    4. David Gale, 1967. "On Optimal Development in a Multi-Sector Economy," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 34(1), pages 1-18.
    5. Brock, William A, 1973. "Some Results on the Uniqueness of Steady States in Multisector Models of Optimum Growth when Future Utilities are Discounted," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 14(3), pages 535-559, October.
    6. W. A. Brock, 1970. "On Existence of Weakly Maximal Programmes in a Multi-Sector Economy," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 37(2), pages 275-280.
    7. Lionel W. McKenzie, 2012. "turnpike theory," The New Palgrave Dictionary of Economics,, Palgrave Macmillan.
    8. Stigum, Bernt P., 1973. "Competitive equilibria with infinitely many commodities (II)," Journal of Economic Theory, Elsevier, vol. 6(5), pages 415-445, October.
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    10. Robert A. Becker, 1980. "On the Long-Run Steady State in a Simple Dynamic Model of Equilibrium with Heterogeneous Households," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 95(2), pages 375-382.
    11. Alexandre Scheinkman, Jose, 1976. "On optimal steady states of n-sector growth models when utility is discounted," Journal of Economic Theory, Elsevier, vol. 12(1), pages 11-30, February.
    12. BEWLEY, Truman F., 1972. "Existence of equilibria in economies with infinitely many commodities," LIDAM Reprints CORE 122, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    13. Peleg, Bezalel & Yaari, Menahem E, 1970. "Markets with Countably Many Commodities," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 11(3), pages 369-377, October.
    14. Benhabib, Jess & Nishimura, Kazuo, 1981. "Stability of Equilibrium in Dynamic Models of Capital Theory," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 22(2), pages 275-293, June.
    15. Benveniste, L. M. & Scheinkman, J. A., 1982. "Duality theory for dynamic optimization models of economics: The continuous time case," Journal of Economic Theory, Elsevier, vol. 27(1), pages 1-19, June.
    16. Peleg, Bezalel & Ryder, Harl Jr., 1974. "The modified golden rule of a multi-sector economy," Journal of Mathematical Economics, Elsevier, vol. 1(2), pages 193-198, August.
    17. Hiroshi Atsumi, 1965. "Neoclassical Growth and the Efficient Program of Capital Accumulation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 32(2), pages 127-136.
    18. Magill, Michael J. P., 1977. "Some new results on the local stability of the process of capital accumulation," Journal of Economic Theory, Elsevier, vol. 15(1), pages 174-210, June.
    19. Roy Radner, 1961. "Prices and the Turnpike: III. Paths of Economic Growth that are Optimal with Regard only to Final States: A Turnpike Theorem," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 28(2), pages 98-104.
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    Cited by:

    1. Venditti, Alain, 1997. "Strong Concavity Properties of Indirect Utility Functions in Multisector Optimal Growth Models," Journal of Economic Theory, Elsevier, vol. 74(2), pages 349-367, June.
    2. Dai, Darong, 2011. "Modeling the minimum time needed to economic maturity," MPRA Paper 40583, University Library of Munich, Germany, revised 08 Aug 2012.
    3. Sahashi, Yoshinao, 2002. "The convergence of optimal forestry control," Journal of Mathematical Economics, Elsevier, vol. 37(3), pages 179-214, May.
    4. Jensen, Martin Kaae, 2006. "On unbounded growth with heterogenous consumers," Journal of Mathematical Economics, Elsevier, vol. 42(7-8), pages 807-826, November.
    5. Mitra, Tapan & Sorger, Gerhard, 2013. "On Ramseyʼs conjecture," Journal of Economic Theory, Elsevier, vol. 148(5), pages 1953-1976.
    6. Le Van, Cuong & Nguyen, Manh-Hung & Vailakis, Yiannis, 2007. "Equilibrium dynamics in an aggregative model of capital accumulation with heterogeneous agents and elastic labor," Journal of Mathematical Economics, Elsevier, vol. 43(3-4), pages 287-317, April.
    7. Beker, Pablo & Chattopadhyay, Subir, 2010. "Consumption dynamics in general equilibrium: A characterisation when markets are incomplete," Journal of Economic Theory, Elsevier, vol. 145(6), pages 2133-2185, November.
    8. Dai, Darong, 2011. "Modeling the minimum time needed to economic maturity," MPRA Paper 40386, University Library of Munich, Germany, revised 31 Jul 2012.
    9. Wolff, Reiner, 1997. "Saddle-point dynamics in non-autonomous models of multisector growth with variable returns to scale," Journal of Mathematical Economics, Elsevier, vol. 27(3), pages 267-282, April.
    10. Borissov, Kirill, 2004. "An intertemporal general equilibrium model with given real wage rates," Structural Change and Economic Dynamics, Elsevier, vol. 15(2), pages 207-233, June.
    11. Ghiglino, Christian, 2007. "Trade, redistribution and indeterminacy," Journal of Mathematical Economics, Elsevier, vol. 43(3-4), pages 365-389, April.
    12. Ghiglino, Christian & Sorger, Gerhard, 2002. "Poverty Traps, Indeterminacy, and the Wealth Distribution," Journal of Economic Theory, Elsevier, vol. 105(1), pages 120-139, July.
    13. Park, Hyun & Philippopoulos, Apostolis, 2003. "On the dynamics of growth and fiscal policy with redistributive transfers," Journal of Public Economics, Elsevier, vol. 87(3-4), pages 515-538, March.
    14. Ghiglino, Christian, 2002. "Introduction to a General Equilibrium Approach to Economic Growth," Journal of Economic Theory, Elsevier, vol. 105(1), pages 1-17, July.
    15. Evstigneev, I. V. & Taksar, M., 1995. "Stochastic equilibria on graphs, II," Journal of Mathematical Economics, Elsevier, vol. 24(4), pages 383-406.
    16. Le Van, Cuong & Nguyen, Manh-Hung & Vailakis, Yiannis, 2007. "Equilibrium dynamics in an aggregative model of capital accumulation with heterogeneous agents and elastic labor," Journal of Mathematical Economics, Elsevier, vol. 43(3-4), pages 287-317, April.
    17. Ghiglino, Christian & Venditti, Alain, 2011. "Wealth distribution and output fluctuations," Journal of Economic Theory, Elsevier, vol. 146(6), pages 2478-2509.
    18. Kazuo Nishimura & Koji Shimomura, 2012. "Trade and Indeterminacy in a Dynamic General Equilibrium Model," Springer Books, in: John Stachurski & Alain Venditti & Makoto Yano (ed.), Nonlinear Dynamics in Equilibrium Models, edition 127, chapter 0, pages 347-361, Springer.
    19. Epstein, Larry G., 1987. "A simple dynamic general equilibrium model," Journal of Economic Theory, Elsevier, vol. 41(1), pages 68-95, February.
    20. Rubinov, Alexander, 1995. "An equilibrium in dynamic models of a linearly homogeneous economy," Journal of Mathematical Economics, Elsevier, vol. 24(2), pages 179-200.
    21. Boylan, Richard T., 1996. "Voting over investment," Journal of Mathematical Economics, Elsevier, vol. 26(2), pages 187-208.
    22. Sorger, Gerhard, 2002. "On the Long-Run Distribution of Capital in the Ramsey Model," Journal of Economic Theory, Elsevier, vol. 105(1), pages 226-243, July.

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