On the basis of Olech's theorem we derive conditions on which any solution path starting from an arbitrary initial point in a two-dimensional bounded region ultimately converges to a unique equilibrium point without escaping from the region during a transition period. Then, using the result, we render one proposition more exact from the economic point of view.
|Number of pages||9|
|Journal||Journal of Economics Zeitschrift für Nationalökonomie|
|Publication status||Published - 1992 Jun 1|
ASJC Scopus subject areas
- Business, Management and Accounting(all)
- Economics and Econometrics