On the dynamics of capital accumulation across space
AbstractWe solve an optimal growth model in continuous space, continuous and bounded time. The optimizer chooses the optimal trajectories of capital and consumption across space and time by maximizing an objective function with both space and time discounting. We extract the corresponding Pontryagin conditions and prove their sufficiency. We end up with a system of two parabolic differential equations with the corresponding boundary conditions. Then, we study the roles of initial capital and technology distributions over space in various scenarios.
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Bibliographic InfoPaper provided by Bielefeld University, Center for Mathematical Economics in its series Working Papers with number 376.
Length: 23 pages
Date of creation: Dec 2005
Date of revision:
economics; economic geography; parabolic differential equations; optimal control;
Other versions of this item:
- Camacho, Carmen & Zou, Benteng & Briani, Maya, 2008. "On the dynamics of capital accumulation across space," European Journal of Operational Research, Elsevier, vol. 186(2), pages 451-465, April.
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- repec:hal:journl:halshs-00674020 is not listed on IDEAS
- Carmen Camacho & Agustín Pérez-Barahona, 2012.
"Land use dynamics and the environment,"
Documents de travail du Centre d'Economie de la Sorbonne
12012, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- Carmen Camacho & Agustín Pérez-Barahona, 2012. "Land use dynamics and the environment," UniversitÃ© Paris1 PanthÃ©on-Sorbonne (Post-Print and Working Papers) halshs-00674020, HAL.
- Carmen Camacho, 2013.
UniversitÃ© Paris1 PanthÃ©on-Sorbonne (Post-Print and Working Papers)
- Carmen Camacho, 2013. "Spatial migration," Documents de travail du Centre d'Economie de la Sorbonne 13017, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
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