On the stability of Invariant Capital Stock in a two-dimensional planning model |
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| Authors: | Chia-Shin Chung |
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| Institution: | (1) Department of Quantitative Business Analysis, Cleveland State University, 44115 Cleveland, OH, USA |
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| Abstract: | In this paper, we study the stability of two types of Invariant Capital Stocks which are shown to exist in a two-dimensional planning model. It is shown that, for each type of Invariant Capital Stock, there is a critical discount factor such that when the discount factor falls below it, the corresponding Invariant Capital Stock will become unstable. |
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| Keywords: | Stability Invariant Capital Stocks— Boundary Type and Interior Type Critical Discount Factor |
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