PRICE EXPECTATIONS AND STABILITY IN DESCRIPTIVE AND OPTIMALLY CONTROLLED MACRO-ECONOMIC MODELS.
Publication
, Journal Article
Burmeister, E; Graham, DA
Published in: IEE Conference Publication
1973
This article studies the stability properties of both descriptive and optimally controlled macro-economic models admitting any number of capital goods, including a two-sector (one-capital good) model as a special case. The stationary point for an optimal control solution is shown to be a ″regular saddlepoint″ with one-half the characteristic roots of the associated linear system having negative real parts and one-half positive real parts.
Duke Scholars
Published In
IEE Conference Publication
Publication Date
1973
Issue
10
Start / End Page
144 / 157
Citation
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Burmeister, E., & Graham, D. A. (1973). PRICE EXPECTATIONS AND STABILITY IN DESCRIPTIVE AND OPTIMALLY CONTROLLED MACRO-ECONOMIC MODELS. IEE Conference Publication, (10), 144–157.
Burmeister, E., and D. A. Graham. “PRICE EXPECTATIONS AND STABILITY IN DESCRIPTIVE AND OPTIMALLY CONTROLLED MACRO-ECONOMIC MODELS.” IEE Conference Publication, no. 10 (1973): 144–57.
Burmeister E, Graham DA. PRICE EXPECTATIONS AND STABILITY IN DESCRIPTIVE AND OPTIMALLY CONTROLLED MACRO-ECONOMIC MODELS. IEE Conference Publication. 1973;(10):144–57.
Burmeister, E., and D. A. Graham. “PRICE EXPECTATIONS AND STABILITY IN DESCRIPTIVE AND OPTIMALLY CONTROLLED MACRO-ECONOMIC MODELS.” IEE Conference Publication, no. 10, 1973, pp. 144–57.
Burmeister E, Graham DA. PRICE EXPECTATIONS AND STABILITY IN DESCRIPTIVE AND OPTIMALLY CONTROLLED MACRO-ECONOMIC MODELS. IEE Conference Publication. 1973;(10):144–157.
Published In
IEE Conference Publication
Publication Date
1973
Issue
10
Start / End Page
144 / 157