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Optimal programs in the Robinson, Solow and Srinivasan model
Author(s) -
Zaslavski Alexander J.
Publication year - 2005
Publication title -
international journal of economic theory
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.351
H-Index - 11
eISSN - 1742-7363
pISSN - 1742-7355
DOI - 10.1111/j.1742-7363.2005.00010.x
Subject(s) - mathematical economics , economics , construct (python library) , convergence (economics) , stock (firearms) , mathematics , econometrics , computer science , macroeconomics , mechanical engineering , engineering , programming language
In the present paper, results are obtained on the optimal “choice of techniques” in the long run in a model proposed by Robinson, Solow and Srinivasan. We establish a convergence of good programs to the golden‐rule stock and show the existence of optimal programs. We also construct an example of a maximal program that is not optimal.