Title:

Adaptive rolling plans good

Group publication title:

Argumenta Oeconomica

Creator:

Maćkowiak, Piotr

Subject and Keywords:

indirect utility function ; adaptive rolling planning ; multisector model ; goog plans

Description:

Argumenta Oeconomica, 2010, Nr 2 (25), s. 117-136

Abstrakt:

0BHere 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.

Publisher:

Uniwersytet Ekonomiczny we Wrocławiu

Place of publication:

Wrocław

Date:

2010

Resource Type:

artykuł

Format:

application/pdf

Language:

eng

Relation:

Argumenta Oeconomica, 2010, No 2 (25)

Rights:

Wszystkie prawa zastrzeżone (Copyright)

Access Rights:

Dla wszystkich w zakresie dozwolonego użytku

Location:

Uniwersytet Ekonomiczny we Wrocławiu