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Existence of optimal strategies in linear multisector models

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Author Info

  • Giuseppe Freni

    ()

  • Fausto Gozzi

    ()

  • Neri Salvadori

    ()

Abstract

In this paper we give a sufficient and almost necessary condition for the existence of optimal strategies in linear multisector models when time is continuous, consumption is limited to one commodity, the instantaneous utility is of the CES type, and available technology allows a positive growth rate.

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File URL: http://hdl.handle.net/10.1007/s00199-005-0025-y
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Bibliographic Info

Article provided by Springer in its journal Economic Theory.

Volume (Year): 29 (2006)
Issue (Month): 1 (September)
Pages: 25-48

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Handle: RePEc:spr:joecth:v:29:y:2006:i:1:p:25-48

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Related research

Keywords: Endogenous growth; Optimal control with mixed constraints; von Neumann growth model;

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References

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  1. Giuseppe Freni & Fausto Gozzi & Neri Salvadori, 2004. "Existence of Optimal Strategies in linear Multisector Models," Discussion Papers 2004/29, Dipartimento di Scienze Economiche (DSE), University of Pisa, Pisa, Italy.
  2. Becker, Robert A. & Boyd, John III & Sung, Bom Yong, 1989. "Recursive utility and optimal capital accumulation. I. Existence," Journal of Economic Theory, Elsevier, vol. 47(1), pages 76-100, February.
  3. Magill, Michael J P, 1981. "Infinite Horizon Programs," Econometrica, Econometric Society, vol. 49(3), pages 679-711, May.
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Citations

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Cited by:
  1. Manuela Gussoni - Andrea Mangani, 2009. "The impact of public funding for innovation on firms' R&D investments: Do R&D cooperation and appropriability matter?," Discussion Papers 2009/90, Dipartimento di Scienze Economiche (DSE), University of Pisa, Pisa, Italy.
  2. Freni, Giuseppe, 2009. "Factor intensity and order of resource extraction," MPRA Paper 18790, University Library of Munich, Germany.
  3. Luciano Fanti & Luca Gori, 2009. "On economic growth and minimum wages," Discussion Papers 2009/78, Dipartimento di Scienze Economiche (DSE), University of Pisa, Pisa, Italy.
  4. Luciano Fanti & Luca Gori, 2012. "Endogenous Lifetime in an Overlapping-Generations Small Open Economy," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 68(2), pages 121-152, June.
  5. Luciano Fanti & Luca Gori, 2009. "Longevity, fertility and PAYG pension systems sustainability," Discussion Papers 2009/77, Dipartimento di Scienze Economiche (DSE), University of Pisa, Pisa, Italy.
  6. Freni, Giuseppe & Gozzi, Fausto & Pignotti, Cristina, 2008. "Optimal strategies in linear multisector models: Value function and optimality conditions," Journal of Mathematical Economics, Elsevier, vol. 44(1), pages 55-86, January.
  7. Luciano Fanti & Luca Gori, 2009. "Child policy solutions for the unemployment problem," Discussion Papers 2009/76, Dipartimento di Scienze Economiche (DSE), University of Pisa, Pisa, Italy.
  8. Lorenzo Corsini & Pier Mario Pacini & Luca Spataro, 2010. "Workers' Choice on Pension Schemes: an Assessment of the Italian TFR Reform Through Theory and Simulations," Discussion Papers 2010/96, Dipartimento di Scienze Economiche (DSE), University of Pisa, Pisa, Italy.
  9. Fabbri, Giorgio & Gozzi, Fausto, 2008. "Solving optimal growth models with vintage capital: The dynamic programming approach," Journal of Economic Theory, Elsevier, vol. 143(1), pages 331-373, November.
  10. Luciano Fanti & Luca Gori, 2009. "Endogenous fertility, endogenous lifetime and economic growth: the role of health and child policies," Discussion Papers 2009/91, Dipartimento di Scienze Economiche (DSE), University of Pisa, Pisa, Italy.
  11. Lorenzo Corsini & Elisabetta Olivieri, 2008. "Technological Change and the Wage Differential between Skilled and Unskilled Workers: Evidence from Italy," Discussion Papers 2008/73, Dipartimento di Scienze Economiche (DSE), University of Pisa, Pisa, Italy.
  12. Luca Gori, 2009. "Endogenous fertility, family policy and multiple equilibria," Discussion Papers 2009/79, Dipartimento di Scienze Economiche (DSE), University of Pisa, Pisa, Italy.
  13. Giuseppe Freni & Fausto Gozzi & Neri Salvadori, 2004. "Existence of Optimal Strategies in linear Multisector Models," Discussion Papers 2004/29, Dipartimento di Scienze Economiche (DSE), University of Pisa, Pisa, Italy.
  14. Freni, Giuseppe & Gozzi, Fausto & Salvadori, Neri, 2009. "Existence of Optimal Strategies in Linear Multisector Models with several consumption goods," MPRA Paper 18766, University Library of Munich, Germany.
  15. Luciano Fanti & Luca Gori, 2008. "PAYG pensions and economic cycles: exogenous versus endogenous fertility," Discussion Papers 2008/75, Dipartimento di Scienze Economiche (DSE), University of Pisa, Pisa, Italy.

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