Econometrica: Oct, 1959, Volume 27, Issue 4

Some Properties of a Dynamic Leontief System with a Spectrum of Techniques

https://doi.org/0012-9682(195910)27:4<626:SPOADL>2.0.CO;2-4
p. 626-637

Michio Morishima

This article was written independently of Solow's [13] but is closely related to it. Under some plausible assumptions the author discusses various stability properties of a dynamic input-output system with a spectrum of techniques. Those economists who are interested in game theory, linear programming and input-output analysis may be charmed by Mrs. Robinson's model [9], a borderline model between von Neumann's theory of growth [8] and Marx's theory of reproduction. It is shown that her solution of a golden age is a particular solution of the dynamic Leontief model.