Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/189242 
Year of Publication: 
1995
Series/Report no.: 
Queen's Economics Department Working Paper No. 921
Publisher: 
Queen's University, Department of Economics, Kingston (Ontario)
Abstract: 
We will study a multi-sector discrete-time optimal growth model with a neoclassical non-joint technology and show the Neighborhood Turnpike; any optimal path will be trapped in the neighborhood of an associated optimal steady state and its neighborhood can be chosen as small as possible by taking the discount factor close enough to one and the full Turnpike; any optimal path converges to an associated optimal steady state path when discount factors are close enough to one. These two Turnpike properties will provide the firm theoretical background for an application of a neoclassical optimal growth model with heterogeneous capital goods to economic analyses.
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.