Untersuchungen über das Versicherungswesen in Deutschland

Study week on the econometric approach to development planning

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Monograph

Identifikator:: 1019703202

URN:: urn:nbn:de:zbw-retromon-34598

Document type:: Monograph

Author:: Walle, Paul http://d-nb.info/gnd/1057115835

Title:: Le Pérou économique

Edition:: quatrième édition entièrement revue

Place of publication:: Paris

Publisher:: E. Guilmoto, éditeur

Year of publication:: 1913

Scope:: 1 Online-Ressource (XVI, 387 Seiten)

Digitisation:: 2018

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapitre premier

Collection:: Economics Books

SEMAINE D'ÉTUDE SUR LE ROLE DE L ANALYSE ECONOMETRIOUE ETC. co of the ethical or political choice of an objective function from the investigation of the set of technologically feasible paths. Our main conclusion will be that such a separation is not work- able. Ignoring realities in adopting « principles » may lead one to search for a nonexistent optimum, or to adopt an « optimum » that is open to unanticipated objections. In connection with the first aim, Section 3 recalls a few results of the theory of linear and convex programming in a Anite number of variables, that bear on the problem of opti- mum growth. The reading of this section is believed to be helpful rather than essential for what follows. Indeed, in most of its formulations, the problem of optimal growth is a special problem in mathematical programming. The main new ele- ment arises from the open-endedness of the future. If one adopts a finite time horizon, the choice of the terminal capital stock is as much a part of the problem to be solved as the choice of the path. Terminal capital, after all, represents the collection of paths beyond the horizon that it makes possible. An infinite horizon is therefore perhaps a more natural speci- fication m many formulations of the problem of optimal growth. The mathematical complications so created are the price for the greater explicitness of long run considerations thus made possible. Sections 4-6 analyze a model with a single producible good serving both as capital in the form of a stock, and as a con- sumption good in the form of a flow. It is produced under a constant technologv bv a labor force growing exogenously at a given exponential rate. Proofs for many of the propositions labeled (A), (B), ... in Section 4 are given under the same label in an Appendix (1). In Section 7 the findings of the logical experiments of Sec- tions 5. 6 are examined. The main conclusion is that some (") Approximate equivalents of propositions (E), (F), (H), (I), (J) were obtained independently by Davip Cass [1963]. The connection between the limiting case of a zero discount rate and the « golden rule of acenmnlation » {see Section 5) is also observed and discussed in Cass’s paper Konbmans - pag.

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