[{"publication_identifier":{"issn":["0931-6558"]},"date_updated":"2019-06-06T07:35:01Z","has_accepted_license":"1","jel":["C02","C62","E13","E24","E30","E31","O41","O42"],"type":"working_paper","volume":617,"locked":"1","keyword":["balanced growth","stability","stochastic balanced expansion","random fixed points","Perron-Frobenius solution"],"language":[{"iso":"eng"}],"series_title":"Center for Mathematical Economics Working Papers","date_created":"2019-06-06T07:34:24Z","abstract":[{"lang":"eng","text":"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)."}],"place":"Bielefeld","author":[{"first_name":"Volker","full_name":"Böhm, Volker","last_name":"Böhm","id":"80680"}],"file_date_updated":"2019-06-06T07:28:55Z","citation":{"default":"Böhm V (2019) Center for Mathematical Economics Working Papers; 617.

Bielefeld: Center for Mathematical Economics.","apa":"Böhm, V. (2019). *Stable Balanced Expansion in Homogeneous Dynamic Models* (Center for Mathematical Economics Working Papers, 617). Bielefeld: Center for Mathematical Economics.","apa_indent":"Böhm, V. (2019). *Stable Balanced Expansion in Homogeneous Dynamic Models* (Center for Mathematical Economics Working Papers, 617). Bielefeld: Center for Mathematical Economics.

","lncs":" Böhm, V.: Stable Balanced Expansion in Homogeneous Dynamic Models. Center for Mathematical Economics Working Papers, 617. Center for Mathematical Economics, Bielefeld (2019).","wels":"Böhm, V. (2019): Stable Balanced Expansion in Homogeneous Dynamic Models. Bielefeld: Center for Mathematical Economics.","dgps":"Böhm, V. (2019). *Stable Balanced Expansion in Homogeneous Dynamic Models* (Center for Mathematical Economics Working Papers). Bielefeld: Center for Mathematical Economics.

","ieee":" V. Böhm, *Stable Balanced Expansion in Homogeneous Dynamic Models*, Center for Mathematical Economics Working Papers, vol. 617, Bielefeld: Center for Mathematical Economics, 2019.","chicago":"Böhm, Volker. 2019. *Stable Balanced Expansion in Homogeneous Dynamic Models*. Vol. 617. Center for Mathematical Economics Working Papers. Bielefeld: Center for Mathematical Economics.

","frontiers":"Böhm, V. (2019). Stable Balanced Expansion in Homogeneous Dynamic Models. *Center for Mathematical Economics Working Papers*, 617, Bielefeld: Center for Mathematical Economics.","harvard1":"Böhm, V., 2019. *Stable Balanced Expansion in Homogeneous Dynamic Models*, Center for Mathematical Economics Working Papers, no.617, Bielefeld: Center for Mathematical Economics.","angewandte-chemie":"V. Böhm, *Stable Balanced Expansion in Homogeneous Dynamic Models*, Center For Mathematical Economics, Bielefeld, **2019**.","bio1":"Böhm V (2019)

*Stable Balanced Expansion in Homogeneous Dynamic Models*. Center for Mathematical Economics Working Papers; 617.

Bielefeld: Center for Mathematical Economics.","mla":"Böhm, Volker. *Stable Balanced Expansion in Homogeneous Dynamic Models*. Bielefeld: Center for Mathematical Economics, 2019. Center for Mathematical Economics Working Papers. 617.","ama":"Böhm V. *Stable Balanced Expansion in Homogeneous Dynamic Models*. Center for Mathematical Economics Working Papers. Vol 617. Bielefeld: Center for Mathematical Economics; 2019."},"intvolume":" 617","_id":"2935975","ddc":["330"],"publication_status":"published","year":"2019","status":"public","publisher":"Center for Mathematical Economics","title":"Stable Balanced Expansion in Homogeneous Dynamic Models","urn":"urn:nbn:de:0070-pub-29359756","file":[{"content_type":"application/pdf","date_updated":"2019-06-06T07:28:55Z","creator":"weingarten","file_id":"2935976","access_level":"open_access","success":1,"checksum":"e8c21908b7a17a87a17ab4598a4c6030","file_size":428238,"file_name":"IMW_working_paper_617.pdf","date_created":"2019-06-06T07:28:55Z","relation":"main_file"}],"department":[{"_id":"10053"}],"oa":1,"user_id":"89573"}]