---
res:
bibo_abstract:
- "This paper examines the stability of balanced paths of expansion or contraction\r\nin
closed macroeconomic models as typical cases of homogeneous dynamical systems.\r\nExamples
of known two-dimensional deterministic and stochastic models are\r\ndiscussed.\r\nThe
appendix presents the mathematical tools and concepts to prove the stability\r\nof
expanding/contracting paths in homogeneous systems. These are described\r\nby
so-called Perron-Frobenius solutions. Since convergence of orbits of homogeneous\r\nsystems
in intensive form is only a necessary condition for convergence in state space\r\nadditional
requirements are derived for the general n-dimensional case. For deterministic\r\ndynamic
economies, as in most models of economic growth, of international\r\ntrade, or
monetary macro, conditions of existence and stability are obtained applying\r\nthe
features of the non-linear generalization of the Perron-Frobenius Theorem.\r\nIn
the stochastic case, the conditions for the stability of balanced paths are derived\r\nusing
a recent extension of the Perron-Frobenius Theorem provided by Evstigneev\r\n&
Pirogov (2010) and Babaei, Evstigneev & Pirogov (2018).@eng"
bibo_authorlist:
- foaf_Person:
foaf_givenName: Volker
foaf_name: Böhm, Volker
foaf_surname: Böhm
foaf_workInfoHomepage: http://www.librecat.org/personId=80680
bibo_volume: 617
dct_date: 2019^xs_gYear
dct_isPartOf:
- http://id.crossref.org/issn/0931-6558
dct_language: eng
dct_publisher: Center for Mathematical Economics@
dct_subject:
- balanced growth
- stability
- stochastic balanced expansion
- random fixed points
- Perron-Frobenius solution
dct_title: Stable Balanced Expansion in Homogeneous Dynamic Models@
...