Publications [#238224] of Daniel A. Graham

Journal Articles

1. Burmeister, E; Graham, DA, PRICE EXPECTATIONS AND STABILITY IN DESCRIPTIVE AND OPTIMALLY CONTROLLED MACRO-ECONOMIC MODELS., in IFAX/IFORS International Conference on Dynamic Modelling and Control of National Economies, IEE Conference Publication no. 10 (1973), pp. 144-157, IEE Conference Publicaiton No. 101, Institute of Electrical Engineeers, London, England
   (last updated on 2024/04/24)

   Abstract:
   This article studies the stability properties of both descriptive and optimally controlled macro-economic models admitting any number of capital goods, including a two-sector (one-capital good) model as a special case. The stationary point for an optimal control solution is shown to be a ″regular saddlepoint″ with one-half the characteristic roots of the associated linear system having negative real parts and one-half positive real parts.