Study week on the econometric approach to development planning

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Monograph

Identifikator:: 1824422792

URN:: urn:nbn:de:zbw-retromon-217476

Document type:: Monograph

Title:: Study week on the econometric approach to development planning

Place of publication:: Amsterdam [u.a.]

Publisher:: North-Holland Publ. Co. [u.a.]

Year of publication:: 1965

Scope:: XLVII, 1259 S.; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

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Title:: Croissance optimales dans un modele macroeconomique / E. Malinvaud, Institut National de la Statistique et des Etudes Economiques Paris - France

Collection:: Economics Books

SEMAINE D'ÉTUDE SUR LE ROLE DE L’ANALYSE ECONOMETRIOUE ETC. 383 With regard to one remark made by Professor ALLAIS, I should make clear I did not prove, in the paper presented here, that the interest rate had to be larger than the growth rate. The inequality between the two rates was introduced as a sufficient condition for a general result concerning optimal programs. However, in most particular cases I considered here, the rate of interest is larger than the rate of growth all the time. ALLAIS The point is, if this proposition cannot be proved in a genera. way, there cannot be an optimal path with the condition : smaller than g. I therefore cannot see the meaning of the preceding pro- position. AAT INVATIT In this paper, I introduced the condition only because I was unable to find a result without it. But I may remark incidentally that a finite horizon was present in the cases where optimal pro- grams were found with an interest rate smaller than their orowth rate KOOPMANS Supplementing Professor MALINVAUD’s remarks I do not think that the response to the difficulties I have pointed out should be to drop the infinite horizon. I think it you make a very large horizon, the same difficulty that shows itself starkly with an infinite horizon will also show itself somewhat less starkly but in an equally disturb- ing manner with a verv large finite horizon. Thus the infinite Malinvaud - pag. 83

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