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
|Journal of Economics Zeitschrift für Nationalökonomie
|Published - 1992 Jun 1
ASJC Scopus subject areas
- General Business,Management and Accounting
- Economics and Econometrics