Policy and Price Stability in the von Neumann Model of a Closed Economy.
WISCONSIN UNIV MADISON MATHEMATICS RESEARCH CENTER
Pagination or Media Count:
The author shows that a necessary and sufficient condition for stability of the set of feasible technologies and growth factors, or of the set of feasible price systems and interest factors, in a von Neumann model is that there exist no equilibria in which the total output of the economy is without value.
- Economics and Cost Analysis
- Operations Research