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Revisiting The Mitra-Wan Tree Farm
Oleh:
Wan, Henry, [Jr.]
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
INTERNATIONAL ECONOMIC REVIEW vol. 35 no. 1 (1994)
,
page 193-198.
Topik:
mitra
;
revisiting
;
mitra - wan
;
tree farm
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
II49.4
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
The tree - farm model of Mitra and Wan contains novelties : a continuum of optimal cycles appear for small discounting and the cyclicality survives perturbations. To isolate the source of novelties, we study the simplest case : trees live naturally for two periods. This model specializes the general theory of multisector development, under four conditions. It becomes a Ramsey type model, augmented by a cross - vintage constraint : the present acreage under trees, age n, must not be less than the acreage under trees age n + 1, one period hence. Novelties emerge when this constraint bounds the graph of the state - to - control correspondence.
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