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

Structure type:: Chapter

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

Collection:: Economics Books

302 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - = in which there is just one good that can be used either for con- sumption or as capital in production. Notwithstanding differen- ces in notation, my model is very similar to his. I am, how- ever, considering a discrete time represented by the index t=o0, 1, 2 ... ad infinitum. C, is aggregate consumption during period ¢, i.e. from time t to time £+1. Similarly N, measures the labor services pro- vided in period {. Equation (1), page 11, defines per capita consumption ¢, and per capita input of labor #,. Capital at time ¢ is denoted as K,, and the stock of good available at time ¢ before consumption as S,=K,+C,. One constraint of ‘he model specifies that the initial stock is equal to a given number S, Another constraint results from the production : function, namely equation (6). Among all programs which are feasible, I am using the same kind of utility function as Professor Koopmans does, except that, in some parts but not everywhere in my paper, [ am taking the per capita labor input as an argument of the utility function, thus allowing the amount of labor services provided to be determined simultaneously with consumption by the choice of the optimal program. In order to make possible a choice among infinite programs [ am not using the technique presented by Professor KooPMANS, out relying on the criterion given by my definition 1, page 17, namelv : A feasible program @! is optimal if there is no value of T and no other feasible program Æ such that the inequalities (14) and (15) be simultaneously fulfiled. Taking this as a definition, I am avoiding considering in- finite sums that might not converge. Section 3 is devoted to the determination of sufficient con- ditions for a program to be optimal. At this stage the model remains general except for some assumptions on the production and utility functions, notably that they be concave and possess: partial derivatives. 5] Malinvaud - pag. 2

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