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Author
Maćkowiak Piotr (Poznań University of Economics, Poland)
Title
Adaptive Rolling Plans Are Good
Source
Argumenta Oeconomica, 2010, nr 2 (25), s. 117-136, bibliogr. 17 poz.
Keyword
Konwergencja, Ekonomia matematyczna
Convergence, Mathematical economics
Note
summ.
Abstract
Here we prove the goodness property of adaptive rolling plans in a multisector optimal growth model under decreasing returns in deterministic environment. Goodness is achieved as a result of fast convergence (at an asymptotically geometric rate) of the rolling plan to balanced growth path. Further on, while searching for goodness, we give a new proof of strong concavity of an indirect utility function – this result is achieved just with help of some elementary matrix algebra and differential calculus.(original abstract)
Accessibility
The Main Library of the Cracow University of Economics
The Library of Warsaw School of Economics
The Library of University of Economics in Katowice
The Main Library of Poznań University of Economics and Business
The Main Library of the Wroclaw University of Economics
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Bibliography
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ISSN
1233-5835
Language
eng
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