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 returns and multi-sector economies.
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Volume (Year): 37 (2008)
Issue (Month): 2 (November)
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"A Model of Optimal Growth Strategy,"
DELTA Working Papers
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- 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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