S.I. HAMIDOV
ON A NON-DEGENERATE NEUMANN EQUILIBRIUM OF THE NEUMANN EDGE
We consider a two-sector model of economic dynamics. The uniqueness of the Neumann prices is proved when the equilibrium state is non-degenerate. It is shown that there exist the prices in two-sector model that are different from Neumann ones, in which balanced growth is possible. A description of such prices is provided. The description of Neumann edges is given in the case of non-degeneracy.
Keywords: equilibrium, balanced growth, non-degeneracy
ON A NON-DEGENERATE NEUMANN EQUILIBRIUM OF THE NEUMANN EDGE
We consider a two-sector model of economic dynamics. The uniqueness of the Neumann prices is proved when the equilibrium state is non-degenerate. It is shown that there exist the prices in two-sector model that are different from Neumann ones, in which balanced growth is possible. A description of such prices is provided. The description of Neumann edges is given in the case of non-degeneracy.
Keywords: equilibrium, balanced growth, non-degeneracy