Abstract
In most of the previous chapters we have considered one period economic theories, namely, theories where time does not enter in an essential way. But, of course, as in many other fields, real world economies operate in time’ and every theory ought to be put in a dynamic framework. Mathematically, time can be represented in two different ways: as a discrete variable, taking only integer values, or as a continuous variable. It is essential to note that every model in continuous time can be translated into a discrete time model and the other way round.
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And space, to which in this book we reserve no specific attention.
For instance, when considering inputs.
For instance, when considering outputs which have necessarily lagged with respect to the corresponding inputs.
For instance, when considering consumption or investment.
Their assumption on A, B has already been used in the analysis of von Neumann’s model in Ch.6.
For many other extensions see, for instance, the collection of essays edited by Bruck-mann and Weber (1971); see also some of the essays in Los at al. (1976). Another reference is Morgenstern and Thompson (1976).
Some errors were detected by Hülsmann and Steinmetz (1972), and partly corrected by Gale (1972).
0f course T is no longer a cone, but both T and C have the same maximum growth factor, â, since C is a cone.
See § 12.7.3.
This is the meaning of Assumption 23.1.iii).
See § 12.3.
Which is non empty according to Assumption 23.3 iii).
See § 12.7.3.
See § 12.3.
See § 12.6.
See § 15.3.
For instance, see McKenzie (1986, § 9).
See § 23.2.
See also § 22.2.
The rate of growth of the economy cannot be permanently greater than g,because some labour force is needed to operate every production process, and at the same time there is no technical progress.
i.e., a stationary equilibrium.
Assuming consumer h is employed when he/she supplies a positive amount of labour.
See § 13.2.
See, for instance, Nicola (1993, pp.113-116).
See § 13.2.4.
See Berge ( 1959, Ch.6, § 3).
See § 12.9.
See § 13.2.4.
See § 13.2.
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© 2000 Springer-Verlag Berlin Heidelberg
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Nicola, P. (2000). Multisectoral Growth Models. In: Mainstream Mathematical Economics in the 20th Century. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-04238-0_23
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