On a uniform turnpike of the third kind in the Robinson-Solow-Srinivasan model

M. Khan and Alexander J. Zaslavski

No 641, FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) from EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil)

Abstract: On using McKenzie’s taxonomy of optimal accumulation in the longrun, we report a 'uniform turnpike' theorem of the third kind in a model original to Robinson, Solow and Srinivasan (RSS), and further studied by Stiglitz. Our results are presented in the undiscounted, discrete-time setting emphasized in the recent work of Khan-Mitra, and they rely on the importance of strictly concave felicity functions, or alternatively, on the value of a 'marginal rate of transformation', ξσ, from one period to the next not being unity. Our results, despite their specificity, contribute to the methodology of intertemporal optimization theory, as developed in economics by Ramsey, von Neumann and their followers.

Date: 2007-01-01
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Citations: View citations in EconPapers (2)

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Journal Article: On a Uniform Turnpike of the Third Kind in the Robinson-Solow-Srinivasan Model (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:fgv:epgewp:641

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