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Age-structured optimal control in population economics

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Author Info

  • Gustav Feichtinger
  • Alexia Prskawetz

    (Max Planck Institute for Demographic Research, Rostock, Germany)

  • Vladimir M. Veliov

Abstract

This paper brings both intertemporal and age-dependent features to a theory of population policy at the macro-level. A Lotkatype renewal model of population dynamics is combined with a Solow/Ramsey economy. By using a new maximum principle for distributed parameter control we derive meaningful qualitative results for the optimal migration path and the optimal saving rate.

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File URL: http://www.demogr.mpg.de/papers/working/wp-2002-045.pdf
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Bibliographic Info

Paper provided by Max Planck Institute for Demographic Research, Rostock, Germany in its series MPIDR Working Papers with number WP-2002-045.

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Length: 31 pages
Date of creation: Sep 2002
Date of revision:
Handle: RePEc:dem:wpaper:wp-2002-045

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Web page: http://www.demogr.mpg.de/

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  1. David M. Cutler & James M. Poterba & Louise M. Sheiner & Lawrence H. Summers, 1990. "An Aging Society: Opportunity or Challenge?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 21(1), pages 1-74.
  2. Matthew Higgins & Jeffrey G. Williamson, 1996. "Asian Demography and Foreign Capital Dependence," NBER Working Papers 5560, National Bureau of Economic Research, Inc.
  3. Guest, Ross S & McDonald, Ian M, 2001. "Ageing, Optimal National Saving and Future Living Standards in Australia," The Economic Record, The Economic Society of Australia, vol. 77(237), pages 117-34, June.
  4. Arthur, W Brian & McNicoll, Geoffrey, 1977. "Optimal Time Paths with Age-Dependence: A Theory of Population Policy," Review of Economic Studies, Wiley Blackwell, vol. 44(1), pages 111-23, February.
  5. Lindh, Thomas, 2000. "Productivity slowdown due to scarcity of capital to scrap in a putty-clay model," Economics Letters, Elsevier, vol. 69(2), pages 225-233, November.
  6. Axel Börsch-Supan, 2002. "International Comparison of Household Savings Behaviour: The German Savings Puzzle," MEA discussion paper series 02006, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
  7. repec:fth:harver:1490 is not listed on IDEAS
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Cited by:
  1. Cardoso, Ana Rute & Guimaraes, Paulo & Zimmermann, Klaus F., 2009. "Comparing the Early Research Performance of PhD Graduates in Labour Economics in Europe and the USA," CEPR Discussion Papers 7129, C.E.P.R. Discussion Papers.
  2. Angels Xabadia & Renan U. Goetz, 2008. "The Optimal Selective Logging Regime and the Faustmann Formula," Working Papers 353, Barcelona Graduate School of Economics.
  3. Fabbri, Giorgio & Gozzi, Fausto & Swiech, Andrzej, 2007. "Verification theorem and construction of epsilon-optimal controls for control of abstract evolution equations," MPRA Paper 3547, University Library of Munich, Germany.

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