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The DUAL Approach in an Infinite Horizon Model

Author

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  • Hans M. Amman
  • Marco P. Tucci

Abstract

In this paper we deliver the solution for the DUAL approach Kendrick (1981; 2002) with an infinite horizon. The results of this solutions form the basis for the paper Amman and Tucci (2017).

Suggested Citation

  • Hans M. Amman & Marco P. Tucci, 2017. "The DUAL Approach in an Infinite Horizon Model," Department of Economics University of Siena 766, Department of Economics, University of Siena.
    • Handle: RePEc:usi:wpaper:766
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    File URL: http://repec.deps.unisi.it/quaderni/766.pdf
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    References listed on IDEAS

    as
    1. Tucci, Marco P. & Kendrick, David A. & Amman, Hans M., 2010. "The parameter set in an adaptive control Monte Carlo experiment: Some considerations," Journal of Economic Dynamics and Control, Elsevier, vol. 34(9), pages 1531-1549, September.
    2. Beck, Gunter W. & Wieland, Volker, 2002. "Learning and control in a changing economic environment," Journal of Economic Dynamics and Control, Elsevier, vol. 26(9-10), pages 1359-1377, August.
    3. anonymous, 2007. "Bank asset growth robust, statistics show," Financial Update, Federal Reserve Bank of Atlanta, vol. 20(2).
    4. Lars Peter Hansen & Thomas J. Sargent, 2007. "Introduction to Robustness," Introductory Chapters, in: Robustness, Princeton University Press.
    5. Amman, Hans M & Kendrick, David A, 1995. "Nonconvexities in Stochastic Control Models," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 36(2), pages 455-475, May.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Hans M. Amman & Marco Paolo Tucci, 2018. "How active is active learning: value function method vs an approximation method," Department of Economics University of Siena 788, Department of Economics, University of Siena.
    2. Amman, Hans M. & Kendrick, David A. & Tucci, Marco P., 2020. "Approximating The Value Function For Optimal Experimentation," Macroeconomic Dynamics, Cambridge University Press, vol. 24(5), pages 1073-1086, July.

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    More about this item

    Keywords

    Optimal experimentation; value function; approximation method; adaptive control; active learning; time-varying parameters; numerical experiments.;
    All these keywords.

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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