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The General Instability of a Class of Competitive Growth Processes

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Abstract

In recent papers [1, 2] Frank Hahn has raised serious doubts regarding the stability properties of neoclassical growth theory.

This work was supported by Office of Naval Research Contract 225(50) at Stanford University. Reproduction in whole or in part is permitted for any purpose of the United States Government.

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References

  1. Hahn, F. H. “ On the Stability of Growth Equilibrium ”, Memorandum, Institute of Economics, University of Oslo (April 19, 1966).

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  2. Hahn, F. H. “ Equilibrium Dynamics with Heterogeneous Capital Goods ”, Quarterly Journal of Economics (forthcoming).

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  3. Kurz, M. “ Optimal Economic Growth and Wealth Effects ”, to appear in the International Economic Review 1968).

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  4. Pontryagin, L. S. and Associates. The Mathematical Theory of Optimal Processes (Translation from the Russian, Interscience Publishers, New York, 1962 ).

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  5. Samuelson, P. A. “ Efficient Paths of Capital Accumulation in Terms of the Calculus of Variations ”, in Arrow, Karlin and Suppes (eds.), Mathematical Methods in the Social Sciences, 1959 ( Stanford: Stanford University Press, 1960 ).

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  6. Solow, R. M. “ A Contribution to the Theory of Economic Growth ”, Quarterly Journal of Economics (February 1956).

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  7. Shell, K., and Stiglitz, J. E. “ Notes on Heterogeneous Capital Accumulation ”, Mimeographed, Department of Economics, Massachusetts Institute of Technology. Cambridge, Mass.

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Authors
  1. M. Kurz
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F. H. Hahn

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© 1971 Economic Study Society

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Kurz, M. (1971). The General Instability of a Class of Competitive Growth Processes. In: Hahn, F.H. (eds) Readings in the Theory of Growth. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-15430-2_17

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