Optimal Growth Models with Bounded or Unbounded Returns: A Unifying Approach
AbstractIn this paper we propose a unifying approach to study optimal growth models with bounded or unbounded returns. We prove existence of optimal solutions. We prove also, without using contraction method, that the value function is the unique solution to the Bellman equation in some classes of functions.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 105 (2002)
Issue (Month): 1 (July)
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Web page: http://www.elsevier.com/locate/inca/622869
Other versions of this item:
- LE VAN, Cuong & MORHAIM, Lisa, 2001. "Optimal growth models with bounded or unbounded returns: a unifying approach," CORE Discussion Papers 2001034, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Le Van, C. & Morhaim, L., 2000. "Optimal Growth Models with Bounded or Unbounded Returns : a Unifying Approach," Papiers d'Economie MathÃÂ©matique et Applications 2000.64, UniversitÃ© PanthÃ©on-Sorbonne (Paris 1).
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Duran, Jorge, 1997. "On Dynamic Programming with Unbounded Returns," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1997033, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Alvarez, Fernando & Stokey, Nancy L., 1998. "Dynamic Programming with Homogeneous Functions," Journal of Economic Theory, Elsevier, vol. 82(1), pages 167-189, September.
- Dana, Rose-Anne & Van, Cuong Le, 1991. "Optimal growth and Pareto optimality," Journal of Mathematical Economics, Elsevier, vol. 20(2), pages 155-180.
- Boud, John III, 1990. "Recursive utility and the Ramsey problem," Journal of Economic Theory, Elsevier, vol. 50(2), pages 326-345, April.
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