Multilane turnpike in the non-stationary input-output economy with von Neumann temporary equilibrium
Multilane turnpike in the non-stationary input-output economy with von Neumann temporary equilibrium

Summary/Abstract: In the author’s earlier papers concerning asymptotic characteristics of the optimal growth processes in non-stationary Gale economies with multilane production turnpikes, it is assumed that production technology used in time period 𝑡𝑡 may also be used in the next period. Such an assumption, relevant for short periods, is difficult to justify in the longer term. The paper contains a proof of the so called ‘weak’ effect of the multilane turnpike in a non-stationary Gale economy with changing technology, where this assumption has been suspended.

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