Existence of solutions in continuous-time optimal growth models
This paper studies the existence of solutions in continuous time optimization problems. It provides a theorem whose conditions can be easily checked in most models of the optimal growth theory including those with increasing return and multi-sector economies.
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Volume (Year): 37 (2008)
Issue (Month): 2 (November)
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- Graciela Chichilnisky, 1981. "Existence and Characterization of Optimal Growth Paths Including Models with Non-Convexities in Utilities and Technologies," Review of Economic Studies, Oxford University Press, vol. 48(1), pages 51-61.
- Romer, Paul M, 1986. "Cake Eating, Chattering, and Jumps: Existence Results for Variational Problems," Econometrica, Econometric Society, vol. 54(4), pages 897-908, July.
- Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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