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. 303 In the derivation of these conditions, inequality (21), page 20, plays an essential role. It permits a comparison be- tween a feasible program # and another feasible program fo+¢ : it might be written as: SU. = Apr at LS ; Lon trang veo Ngo - 72, 2S, T_ %, 8; and Ar depending on the values of the variables in M. The coefficient Jr being non-negative, / is optimal if the 2's and B,’s are equal to zero and if & S,=o for any T and any feasible program #+¢ Æ such that t>T would imply > U,zo. This is essentially what proposition 1 amounts 2. I first define as « regular » a feasible program for which the &,s and $s are all zero; this is equivalent to requiring that the equations (22) be fulfiled. I then specify a condition 1 that automatically implies the condition quoted at the end of the preceding paragraph. Condition 1 requires that, in Æ, the marginal utility of consumption be positive at all times and that there exist a number % larger than 1 such that, at least for large ¢: 2 > fx being the marginal productivity of capital at time ¢ Fro- position 1 states that a regular program that satisfies condi tion 1 is optimal. Let me point out here that any regular program would ap- pear as optimal if time were restricted by a finite horizon T and if the values of both S, and S- were taken as boundarv cons Yi Malinvaud - pag. 37

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