Economic growth model arising from model reference adaptive system

The author extends the model reference adaptive turnpike theorem and proves the usefulness of the theorems. Two types of activities for the adaptation to the turnpike are introduced: (1) the stock adjustment activities, which transfer the unused stock of goods in some period to the next period without any cost, and (2) the temporary trade activities, which involve the export of the unused stock of goods and the import of urgently needed commodities. The usefulness of the theorems is demonstrated by numerical simulation