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Optimal timing of regime switching in optimal growth models: A Sobolev space approach

Author

Listed:
  • Erol Dogan

    (Department of Economics, Bilkent University.)

  • Cuong Le Van

    (PSE, Université Paris 1, CNRS CES, 106-112 boulevard de l'Hôpital 75647 Paris cedex 13)

  • Cagri Saglam

    (Corresponding author. Department of Economics, Bilkent University.)

Abstract

This paper annalyses the optimal timing of switching between alternative and consecutive regimes on optimal growth models. We derive the appropriate necessary conditions for such problems by means of the standard techniques from calculus of variations and some basic properties of Sobolev spaces.

Suggested Citation

  • Erol Dogan & Cuong Le Van & Cagri Saglam, 2010. "Optimal timing of regime switching in optimal growth models: A Sobolev space approach," Working Papers 90, Development and Policies Research Center (DEPOCEN), Vietnam.
    • Handle: RePEc:dpc:wpaper:1610
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    Cited by:

    1. Erin Cottle Hunt & Frank N. Caliendo, 2022. "Social security and longevity risk: An analysis of couples," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 24(3), pages 547-579, June.
    2. Erin Cottle Hunt & Frank N. Caliendo, 2024. "Dynamic Optimization with Timing Risk," Mathematics, MDPI, vol. 12(17), pages 1-18, August.
    3. Dieter Grass & Richard F. Hartl & Peter M. Kort, 2012. "Capital Accumulation and Embodied Technological Progress," Journal of Optimization Theory and Applications, Springer, vol. 154(2), pages 588-614, August.
    4. Jean-Michel Grandmont, 2013. "Tribute to Cuong Le Van," International Journal of Economic Theory, The International Society for Economic Theory, vol. 9(1), pages 5-10, March.
    5. Caliendo, Frank N. & Gorry, Aspen & Slavov, Sita, 2019. "The cost of uncertainty about the timing of Social Security reform," European Economic Review, Elsevier, vol. 118(C), pages 101-125.

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