Uniform boundedness of feasible per capita output streams under convex technology and non-stationary labor

This paper shows that under classical assumptions on technological mapping and presence of an indispensable production factor there is a bound on long-term per capita production. The bound does not depend on initial state of economy. It is shown that all feasible processes converge uniformly over every bounded set of initial inputs p.c. to some set (dependent on technology).

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Year of publication:	2004
Authors:	Maćkowiak, Piotr
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	boundedness of trajectories \| output path \| multi-sector growth model

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	O41 - One, Two, and Multisector Growth Models ; C61 - Optimization Techniques; Programming Models; Dynamic Analysis
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011258302