Twisted Turnpike in the Non-Stationary Gale Economy. Part II

Abstract

In the reference to articles Panek (2014, 2015) in the paper two version of the so called twisted turnpike in the nonstationary Gale economy are presented. There states that if in the non-stationary Gale economy the optimal growth process in the certain period of the time reaches the twisted turnpike and the von Neumann prices do not change to abruptly, than irrespectively of the length of the horizon of the economy such a process for all next periods can be found in the turnpike’s proximity, except for perhaps the final time.