A GENERAL MODEL OF TRADE AND OPTIMAL ACCUMULATION IN A SMALL OPEN ECONOMY: EXISTENCE AND TURNPIKE RESULTS

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概要

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• This paper analyzes optimal accumulation pattern of a small dynamic economy engaged in consumption, production and trade in a many commodity framework. This is modelled in the tradition of neo-classical growth theory (without endogenous growth). Since international prices are given, the many-sector model can be transformed into a one-sector model, where the single good is income or the market value of the stock of commodities owned. It is shown that the path of optimal income monotonically converges to a stationary level in the long-run (not entirely independent of the initial income) while the time-path of optimally chosen commodity bundles need not.

• 慶應義塾大学の論文

著者

• Datta Manjira

  Agricultural Economics The Kieo Economic Society Keio University

関連論文

• A GENERAL MODEL OF TRADE AND OPTIMAL ACCUMULATION IN A SMALL OPEN ECONOMY: EXISTENCE AND TURNPIKE RESULTS

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