Stability of the Neumann Ray in a Dynamic Leontief System with Finite Forecast Horizons
研究在预测不完美的情况下,稳态增长路径的动态稳定性是否能够维持,利用动态列昂惕夫系统并以预测视野长度衡量预测完美程度,得出肯定结论。
This paper considers whether the dynamic stability of the steady-state growth path, deduced in various models under the assumption of perfect foresight, can be sustained if foresight is imperfect. Using a dynamic Leontief system as the framework and measuring the degrees of goodness of foresight by the length of the forecast horizon, the paper derives an affirmative answer. The result can also be interpreted as asserting that the Neumann ray serves as a turnpike for a rolling plan of a long planning horizon.