“…Recall from Proposition 4 (i) that to each τ -value in (46) corresponds a different (transitory) turnpikek τ (A) as defined in (38), each lying one below the other for increasing values of parameter τ , withk 0 (A) -i.e., the turnpike corresponding to τ = 0 -on top, characterizing a scenario in which the largest capital/knowledge ratio is optimal to sustain growth, andk 0.9 (A) at the bottom, envisaging an equilibrium with smaller capital/knowledge ratio and closer to the the first-best solution. Each curve converges to its own linear asymptotic turnpike,k ∞ τ (A), as defined in (39), which are parallel lines corresponding to long-run balanced growth with the same constant growth rate given by (43): Figure 1 depicts in the (A, k) space the stagnation line,k (A) = (156.25) A, in dark grey and three turnpike curves in light grey, dark grey and black, corresponding to τ = 0, τ = 0.5 and τ = 0.9 respectively. We shall identify with these three colors all relevant curves related to these three examples in subsequent figures throughout the paper.…”