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- W3124394654 abstract "We calculate the optimal solutions of the fully heterogeneous Von Neumann expansion problem with $N$ processes and $P$ goods in the limit $Ntoinfty$. This model provides an elementary description of the growth of a production economy in the long run. The system turns from a contracting to an expanding phase as $N$ increases beyond $P$. The solution is characterized by a universal behavior, independent of the parameters of the disorder statistics. Associating technological innovation to an increase of $N$, we find that while such an increase has a large positive impact on long term growth when $Nll P$, its effect on technologically advanced economies ($Ngg P$) is very weak." @default.
- W3124394654 created "2021-02-01" @default.
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- W3124394654 date "2005-07-01" @default.
- W3124394654 modified "2023-09-27" @default.
- W3124394654 title "Typical properties of optimal growth in the Von Neumann expanding model for large random economies" @default.
- W3124394654 hasPublicationYear "2005" @default.
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