working Paper
Stable Balanced Expansion in Homogeneous Dynamic Models
published
Volker
Böhm
author 80680
10053
department
This paper examines the stability of balanced paths of expansion or contraction
in closed macroeconomic models as typical cases of homogeneous dynamical systems.
Examples of known two-dimensional deterministic and stochastic models are
discussed.
The appendix presents the mathematical tools and concepts to prove the stability
of expanding/contracting paths in homogeneous systems. These are described
by so-called Perron-Frobenius solutions. Since convergence of orbits of homogeneous
systems in intensive form is only a necessary condition for convergence in state space
additional requirements are derived for the general n-dimensional case. For deterministic
dynamic economies, as in most models of economic growth, of international
trade, or monetary macro, conditions of existence and stability are obtained applying
the features of the non-linear generalization of the Perron-Frobenius Theorem.
In the stochastic case, the conditions for the stability of balanced paths are derived
using a recent extension of the Perron-Frobenius Theorem provided by Evstigneev
& Pirogov (2010) and Babaei, Evstigneev & Pirogov (2018).
https://pub.uni-bielefeld.de/download/2935975/2935976/IMW_working_paper_617.pdf
application/pdfno
Center for Mathematical Economics2019
eng
balanced growthstabilitystochastic balanced expansionrandom fixed pointsPerron-Frobenius solution
0931-6558urn:nbn:de:0070-pub-29359756
617
<div style="text-indent:-25px; padding-left:25px;padding-bottom:0px;">Böhm, V. (2019). <em>Stable Balanced Expansion in Homogeneous Dynamic Models</em> (Center for Mathematical Economics Working Papers). Bielefeld: Center for Mathematical Economics.</div>
<div style="text-indent:-25px; padding-left:25px;padding-bottom:0px;">Böhm, V. (2019). <em>Stable Balanced Expansion in Homogeneous Dynamic Models</em> (Center for Mathematical Economics Working Papers, 617). Bielefeld: Center for Mathematical Economics.</div>
Böhm, V.: Stable Balanced Expansion in Homogeneous Dynamic Models. Center for Mathematical Economics Working Papers, 617. Center for Mathematical Economics, Bielefeld (2019).
Böhm V (2019) <br /><em>Stable Balanced Expansion in Homogeneous Dynamic Models</em>. Center for Mathematical Economics Working Papers; 617.<br />Bielefeld: Center for Mathematical Economics.
<div style="text-indent:-25px; padding-left:25px;padding-bottom:0px;">Böhm, Volker. 2019. <em>Stable Balanced Expansion in Homogeneous Dynamic Models</em>. Vol. 617. Center for Mathematical Economics Working Papers. Bielefeld: Center for Mathematical Economics.</div>
Böhm V (2019) Center for Mathematical Economics Working Papers; 617.<br />Bielefeld: Center for Mathematical Economics.
V. Böhm, <em>Stable Balanced Expansion in Homogeneous Dynamic Models</em>, Center For Mathematical Economics, Bielefeld, <strong>2019</strong>.
Böhm, V. (2019): Stable Balanced Expansion in Homogeneous Dynamic Models. Bielefeld: Center for Mathematical Economics.
Böhm, V. (2019). Stable Balanced Expansion in Homogeneous Dynamic Models. <em>Center for Mathematical Economics Working Papers</em>, 617, Bielefeld: Center for Mathematical Economics.
Böhm V. <em>Stable Balanced Expansion in Homogeneous Dynamic Models</em>. Center for Mathematical Economics Working Papers. Vol 617. Bielefeld: Center for Mathematical Economics; 2019.
Böhm, Volker. <em>Stable Balanced Expansion in Homogeneous Dynamic Models</em>. Bielefeld: Center for Mathematical Economics, 2019. Center for Mathematical Economics Working Papers. 617.
Böhm, V. (2019). <em>Stable Balanced Expansion in Homogeneous Dynamic Models</em> (Center for Mathematical Economics Working Papers, 617). Bielefeld: Center for Mathematical Economics.
Böhm, V., 2019. <em>Stable Balanced Expansion in Homogeneous Dynamic Models</em>, Center for Mathematical Economics Working Papers, no.617, Bielefeld: Center for Mathematical Economics.
V. Böhm, <em>Stable Balanced Expansion in Homogeneous Dynamic Models</em>, Center for Mathematical Economics Working Papers, vol. 617, Bielefeld: Center for Mathematical Economics, 2019.
29359752019-06-06T07:34:24Z2019-06-06T07:35:01Z