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Theory of Economic Growth$
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Michio Morishima

Print publication date: 1969

Print ISBN-13: 9780198281641

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198281641.001.0001

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Equilibrium Growth (II) Hicks‐Malinvaud Trajectories

Equilibrium Growth (II) Hicks‐Malinvaud Trajectories

Chapter:
(p.133) VIII Equilibrium Growth (II) Hicks‐Malinvaud Trajectories
Source:
Theory of Economic Growth
Author(s):

Michio Morishima

Publisher:
Oxford University Press
DOI:10.1093/0198281641.003.0008

Devoted to establishing the existence of competitive equilibrium paths of various orders, and looks in particular at the Hicks–Malinvaud equilibrium growth path. The different sections cover temporary equilibrium and its conditions (the Lindahl–Hicks sequence of temporary equilibria), the responses of entrepreneurs and the custodian in a pseudo‐economy, the proof of existence of a temporary equilibrium, the non‐singularity and non‐triviality of the equilibrium, savings equals investment in the ‘ex ante’ and the ‘ex post’ sense, equilibrium of order T and its existence and non‐triviality, perfect foresight of the future and eternal equilibrium.

Keywords:   competitive equilibrium, competitive equilibrium paths, economic growth, entrepreneurs, equilibrium growth, equilibrium order, equilibrium order T, eternal equilibrium, J. R. Hicks, Hicks–Malinvaud equilibrium growth path, investment, E. Lindahl, Lindahl–Hicks sequence of temporary equilibria, E. Malvinaud, savings, temporary equilibrium

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