The minimal-time growth problem and ‘very strong’ turnpike theorem
The minimal-time growth problem and ‘very strong’ turnpike theorem

Summary/Abstract: This paper refers to the author's previous work, in which the ‘weak’ turnpike theorem in the stationary Gale economy was proved. The obtained result confirms the well-known Samuelson hypothesis about the specific turnpike stability of optimal growth paths in multiproduct/multisectoral von Neumann-Leontief-Gale-type models, also in the case where the growth criterion is not the (normally assumed) utility of production but the time needed by the economy to achieve the postulated target level or volume of production.

• Details
• Contents