Optimal Control of Infinite-Horizon Growth Models — A direct approach
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Atolia, Manoj & Chatterjee, Santanu & Turnovsky, Stephen J., 2010.
"How misleading is linearization? Evaluating the dynamics of the neoclassical growth model,"
Journal of Economic Dynamics and Control, Elsevier, vol. 34(9), pages 1550-1571, September.
- Manoj Atolia & Santanu Chatterjee & Stephen J. Turnovsky, 2008. "How Misleading is Linearization? Evaluating the Dynamics of the Neoclassical Growth Model," Working Papers wp2008_11_01, Department of Economics, Florida State University, revised Sep 2008.
- Trimborn, Timo, 2007. "Anticipated Shocks in Continuous-time Optimization Models: Theoretical Investigation and Numerical Solution," Hannover Economic Papers (HEP) dp-363, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
- Mercenier, Jean & Michel, Philippe, 1994. "Discrete-Time Finite Horizon Appromixation of Infinite Horizon Optimization Problems with Steady-State Invariance," Econometrica, Econometric Society, vol. 62(3), pages 635-656, May.
- Jones, Charles I & Williams, John C, 2000.
"Too Much of a Good Thing? The Economics of Investment in R&D,"
Journal of Economic Growth, Springer, vol. 5(1), pages 65-85, March.
- Charles I. Jones & John C. Williams, "undated". "Too Much of a Good Thing? The Economics of Investment in R&D," Working Papers 95006, Stanford University, Department of Economics.
- Charles I. Jones & John C. Williams, 1999. "Too Much of a Good Thing? The Economics of Investment in R&D"," Working Papers 99015, Stanford University, Department of Economics.
- Charles I. Jones & John C. Williams, "undated". "Too Much of a Good Thing? The Economics of Investment in R&D," Working Papers 96005, Stanford University, Department of Economics.
- Charles I. Jones & John C. Williams, 1995. "Too much of a good thing? The economics of investment in R&D," Finance and Economics Discussion Series 95-39, Board of Governors of the Federal Reserve System (U.S.).
- Charles I. Jones & John C. Williams, 1999. "Too Much of a Good Thing? The Economics of Investment in R&D," NBER Working Papers 7283, National Bureau of Economic Research, Inc.
- Jones, C-I & Williams, J-C, 1996. "Too Much of a Good Thing? The Economics of Investment in R&D," Papers 538, Harvard - Institute for International Development.
- Tjalling C. Koopmans, 1963. "On the Concept of Optimal Economic Growth," Cowles Foundation Discussion Papers 163, Cowles Foundation for Research in Economics, Yale University.
- Trimborn, Timo & Koch, Karl-Josef & Steger, Thomas M., 2008.
"Multidimensional Transitional Dynamics: A Simple Numerical Procedure,"
Macroeconomic Dynamics, Cambridge University Press, vol. 12(3), pages 301-319, June.
- Timo Trimborn & Karl-Josef Koch & Thomas M. Steger, 2004. "Multi-dimensional transitional dynamics : a simple numerical procedure," CER-ETH Economics working paper series 04/35, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
- Timo Trimborn & Karl-Josef Koch & Thomas Steger, 2006. "Multi-Dimensional Transitional Dynamics: A Simple Numberical Procedure," CESifo Working Paper Series 1745, CESifo.
- Karl-Josef Koch & Timo Trimborn & Thomas M. Steger, 2005. "Multi-Dimensional Transitional Dynamics: A Simple Numerical Procedure," Volkswirtschaftliche Diskussionsbeiträge 121-05, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht.
- Barro, Robert J, 1990.
"Government Spending in a Simple Model of Endogenous Growth,"
Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 103-126, October.
- Robert J. Barro, 1988. "Government Spending in a Simple Model of Endogenous Growth," NBER Working Papers 2588, National Bureau of Economic Research, Inc.
- Barro, R.J., 1988. "Government Spending In A Simple Model Of Endogenous Growth," RCER Working Papers 130, University of Rochester - Center for Economic Research (RCER).
- Barro, Robert J., 1990. "Government Spending in a Simple Model of Endogeneous Growth," Scholarly Articles 3451296, Harvard University Department of Economics.
- Robert J. Barro & Xavier Sala-i-Martin, 2003. "Economic Growth, 2nd Edition," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262025531, December.
- Futagami, Koichi & Iwaisako, Tatsuro & Ohdoi, Ryoji, 2008. "Debt Policy Rule, Productive Government Spending, And Multiple Growth Paths," Macroeconomic Dynamics, Cambridge University Press, vol. 12(4), pages 445-462, September.
- Minea, Alexandru & Villieu, Patrick, 2013.
"Debt Policy Rule, Productive Government Spending, And Multiple Growth Paths: A Note,"
Macroeconomic Dynamics, Cambridge University Press, vol. 17(4), pages 947-954, June.
- Alexandru Minea & Patrick Villieu, 2013. "Debt policy rule, productive government spending, and multiple growth paths: a note," Post-Print halshs-00829552, HAL.
- Ambler, Steve & Pelgrin, Florian, 2010.
"Time-consistent control in nonlinear models,"
Journal of Economic Dynamics and Control, Elsevier, vol. 34(10), pages 2215-2228, October.
- Steven Ambler & Florian Pelgrin, 2005. "Time Consistent Control in Non-Linear Models," Computing in Economics and Finance 2005 282, Society for Computational Economics.
- Steve Ambler & Florian Pelgrin, 2007. "Time-Consistent Control in Non-Linear Models," Staff Working Papers 07-3, Bank of Canada.
- Aruoba, S. Boragan & Fernandez-Villaverde, Jesus & Rubio-Ramirez, Juan F., 2006.
"Comparing solution methods for dynamic equilibrium economies,"
Journal of Economic Dynamics and Control, Elsevier, vol. 30(12), pages 2477-2508, December.
- S. Boragan Aruoba & Jesus Fernandez-Villaverde & Juan F. Rubio-Ramirez, 2003. "Comparing Solution Methods for Dynamic Equilibrium Economies," PIER Working Paper Archive 04-003, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
- S. B. Aruoba & Jesús Fernández-Villaverde & Juan F. Rubio-Ramirez, 2005. "Comparing Solution Methods for Dynamic Equilibrium Economies," Levine's Bibliography 122247000000000855, UCLA Department of Economics.
- S. Boragan Aruoba & Jesús Fernández-Villaverde & Juan F. Rubio-Ramirez, 2003. "Comparing solution methods for dynamic equilibrium economies," FRB Atlanta Working Paper 2003-27, Federal Reserve Bank of Atlanta.
- S. Boragan Aruoba & Jesus Fernandez-Villaverde & Juan F. Rubio-Ramirez, 2003. "Linear and Log-Linear Approximation," QM&RBC Codes 117, Quantitative Macroeconomics & Real Business Cycles.
- S. Boragan Aruoba & Jesus Fernandez-Villaverde & Juan F. Rubio-Ramirez, 2003. "Value Function Iteration," QM&RBC Codes 121, Quantitative Macroeconomics & Real Business Cycles.
- S. Boragan Aruoba & Jesus Fernandez-Villaverde & Juan F. Rubio-Ramirez, 2003. "Finite Elements Method," QM&RBC Codes 118, Quantitative Macroeconomics & Real Business Cycles.
- S. Boragan Aruoba & Jesus Fernandez-Villaverde & Juan F. Rubio-Ramirez, 2003. "Perturbation (2nd and 5th order)," QM&RBC Codes 120, Quantitative Macroeconomics & Real Business Cycles.
- S. Boragan Aruoba & Jesus Fernandez-Villaverde & Juan F. Rubio-Ramirez, 2003. "Chebyshev Polynomials," QM&RBC Codes 119, Quantitative Macroeconomics & Real Business Cycles.
- Brunner, Martin & Strulik, Holger, 2002.
"Solution of perfect foresight saddlepoint problems: a simple method and applications,"
Journal of Economic Dynamics and Control, Elsevier, vol. 26(5), pages 737-753, May.
- Martin Brunner & Holger Strulik, 2002. "Code for "Solution of Perfect Foresight Sattlepoint Problems: A Simple Method and Applications"," QM&RBC Codes 93, Quantitative Macroeconomics & Real Business Cycles.
- Casey B. Mulligan & Xavier Sala-i-Martin, 1991. "A Note on the Time-Elimination Method For Solving Recursive Dynamic Economic Models," NBER Technical Working Papers 0116, National Bureau of Economic Research, Inc.
- Tjalling C. Koopmans, 1963. "Appendix to 'On the Concept of Optimal Economic Growth'," Cowles Foundation Discussion Papers 163A, Cowles Foundation for Research in Economics, Yale University.
- Judd, Kenneth L., 1992. "Projection methods for solving aggregate growth models," Journal of Economic Theory, Elsevier, vol. 58(2), pages 410-452, December.
- Paul M. Romer, 1994. "The Origins of Endogenous Growth," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 3-22, Winter.
- Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Posch, Olaf & Trimborn, Timo, 2013.
"Numerical solution of dynamic equilibrium models under Poisson uncertainty,"
Journal of Economic Dynamics and Control, Elsevier, vol. 37(12), pages 2602-2622.
- Olaf Posch & Timo Trimborn, 2011. "Numerical Solution of Dynamic Equilibrium Models under Poisson Uncertainty," DEGIT Conference Papers c016_044, DEGIT, Dynamics, Economic Growth, and International Trade.
- Olaf Posch & Timo Trimborn, 2011. "Numerical Solution of Dynamic Equilibrium Models under Poisson Uncertainty," CESifo Working Paper Series 3431, CESifo.
- Olaf Posch & Timo Trimborn, 2010.
"Numerical solution of continuous-time DSGE models under Poisson uncertainty,"
Economics Working Papers
2010-08, Department of Economics and Business Economics, Aarhus University.
- Posch, Olaf & Trimborn, Timo, 2010. "Numerical solution of continuous-time DSGE models under Poisson uncertainty," Hannover Economic Papers (HEP) dp-450, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
- Trimborn, Timo, 2007. "Anticipated Shocks in Continuous-time Optimization Models: Theoretical Investigation and Numerical Solution," Hannover Economic Papers (HEP) dp-363, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
- Trimborn, Timo & Koch, Karl-Josef & Steger, Thomas M., 2008.
"Multidimensional Transitional Dynamics: A Simple Numerical Procedure,"
Macroeconomic Dynamics, Cambridge University Press, vol. 12(3), pages 301-319, June.
- Timo Trimborn & Karl-Josef Koch & Thomas M. Steger, 2004. "Multi-dimensional transitional dynamics : a simple numerical procedure," CER-ETH Economics working paper series 04/35, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
- Timo Trimborn & Karl-Josef Koch & Thomas Steger, 2006. "Multi-Dimensional Transitional Dynamics: A Simple Numberical Procedure," CESifo Working Paper Series 1745, CESifo.
- Karl-Josef Koch & Timo Trimborn & Thomas M. Steger, 2005. "Multi-Dimensional Transitional Dynamics: A Simple Numerical Procedure," Volkswirtschaftliche Diskussionsbeiträge 121-05, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht.
- Klarl, Torben, 2016. "Pollution externalities, endogenous health and the speed of convergence in an endogenous growth model," Journal of Macroeconomics, Elsevier, vol. 50(C), pages 98-113.
- Atolia, Manoj & Chatterjee, Santanu & Turnovsky, Stephen J., 2010.
"How misleading is linearization? Evaluating the dynamics of the neoclassical growth model,"
Journal of Economic Dynamics and Control, Elsevier, vol. 34(9), pages 1550-1571, September.
- Manoj Atolia & Santanu Chatterjee & Stephen J. Turnovsky, 2008. "How Misleading is Linearization? Evaluating the Dynamics of the Neoclassical Growth Model," Working Papers wp2008_11_01, Department of Economics, Florida State University, revised Sep 2008.
- repec:ebl:ecbull:v:2:y:2002:i:1:p:1-15 is not listed on IDEAS
- Maebayashi, Noritaka & Hori, Takeo & Futagami, Koichi, 2017.
"Dynamic Analysis Of Reductions In Public Debt In An Endogenous Growth Model With Public Capital,"
Macroeconomic Dynamics, Cambridge University Press, vol. 21(6), pages 1454-1483, September.
- Noritaka Maebayashi & Takeo Hori & Koichi Futagami, 2012. "Dynamic analysis of reductions in public debt in an endogenous growth model with public capital," Discussion Papers in Economics and Business 12-08-Rev, Osaka University, Graduate School of Economics, revised Feb 2013.
- Noritaka Maebayashi & Takeo Hori & Koichi Futagami, 2012. "Dynamic analysis of reductions in public debt in an endogenous growth model with public capital," Discussion Papers in Economics and Business 12-08-Rev.2, Osaka University, Graduate School of Economics, revised Jan 2014.
- Noritaka Maebayashi & Takeo Hori & Koichi Futagami, 2012. "Dynamic analysis of reductions in public debt in an endogenous growth model with public capital," Discussion Papers in Economics and Business 12-08-Rev.3, Osaka University, Graduate School of Economics, revised Aug 2015.
- Noritaka Maebayashi & Takeo Hori & Koichi Futagami, 2012. "Dynamic analysis of reductions in public debt in an endogenous growth model with public capital," Discussion Papers in Economics and Business 12-08, Osaka University, Graduate School of Economics.
- Aykut Kibritçioglu, 2002.
"On the Smithian origins of "new" trade and growth theories,"
Economics Bulletin, AccessEcon, vol. 2(1), pages 1-15.
- Aykut Kibritcioglu, "undated". "On The Smithian Origins Of "New" Trade And Growth Theories," Working Papers _001, Ankara University Faculty of Political Sciences.
- Aykut Kibritcioglu, 1997. "On the Smithian Origins of "New" Trade and Growth Theories," International Trade 9711001, University Library of Munich, Germany, revised 04 Feb 2002.
- Nickel, Christiane & Rother, Philipp & Theophilopoulou, Angeliki, 2008. "Population ageing and public pension reforms in a small open economy," Working Paper Series 863, European Central Bank.
- Carlos Morales, 2011. "Variedades de recursos naturales y crecimiento económico," Revista Desarrollo y Sociedad, Universidad de los Andes - CEDE, December.
- I. Hakan Yetkiner, 2006. "Saglik ile Buyume," Ege Academic Review, Ege University Faculty of Economics and Administrative Sciences, vol. 6(2), pages 83-91.
- Volker Grossmann & Thomas M. Steger & Timo Trimborn, 2016.
"Quantifying Optimal Growth Policy,"
Journal of Public Economic Theory, Association for Public Economic Theory, vol. 18(3), pages 451-485, June.
- Grossmann, Volker & Steger, Thomas M. & Trimborn, Timo, 2010. "Quantifying Optimal Growth Policy," IZA Discussion Papers 5007, Institute of Labor Economics (IZA).
- Grossmann, Volker & Steger, Thomas M. & Trimborn, Timo, 2010. "Quantifying Optimal Growth Policy," Hannover Economic Papers (HEP) dp-440, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
- Volker Grossmann & Thomas Steger & Timo Trimborn, 2010. "Quantifying Optimal Growth Policy," CESifo Working Paper Series 3092, CESifo.
- Volker Grossmann & Thomas M. Steger & Timo Trimborn, 2010. "Quantifying Optimal Growth Policy," DEGIT Conference Papers c015_051, DEGIT, Dynamics, Economic Growth, and International Trade.
- Grossmann, Volker & Steger, Thomas M. & Trimborn, Timo, 2010. "Quantifying Optimal Growth Policy," FSES Working Papers 414, Faculty of Economics and Social Sciences, University of Freiburg/Fribourg Switzerland.
- Turnovsky, S., 2000.
"Growth in an Open Economy: some Recent Developments,"
Papers
5, Warwick - Development Economics Research Centre.
- Stephen J. Turnovsky, 2000. "Growth in an open economy: some recent developments," Working Paper Research 05, National Bank of Belgium.
- Stephen Turnovsky, 2000. "Growth in an Open Economy: Some Recent Developments," Working Papers 0015, University of Washington, Department of Economics.
- Stephen Turnovsky, 2000. "Growth in an Open Economy: Some Recent Developments," Discussion Papers in Economics at the University of Washington 0015, Department of Economics at the University of Washington.
- Ragni, Stefania & Diele, Fasma & Marangi, Carmela, 2010. "Steady-state invariance in high-order Runge-Kutta discretization of optimal growth models," Journal of Economic Dynamics and Control, Elsevier, vol. 34(7), pages 1248-1259, July.
- Brunner, Martin & Strulik, Holger, 2002.
"Solution of perfect foresight saddlepoint problems: a simple method and applications,"
Journal of Economic Dynamics and Control, Elsevier, vol. 26(5), pages 737-753, May.
- Martin Brunner & Holger Strulik, 2002. "Code for "Solution of Perfect Foresight Sattlepoint Problems: A Simple Method and Applications"," QM&RBC Codes 93, Quantitative Macroeconomics & Real Business Cycles.
- Naeem AKRAM*, 2017. "Role of Public Debt in Economic Growth of Sri Lanka: An ARDL Approach," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 27(2), pages 189-212.
- Azacis, Helmuts & Gillman, Max, 2010.
"Flat tax reform: The Baltics 2000-2007,"
Journal of Macroeconomics, Elsevier, vol. 32(2), pages 692-708, June.
- Azacis, Helmuts & Gillman, Max, 2008. "Baltic Tax Reform," Cardiff Economics Working Papers E2008/6, Cardiff University, Cardiff Business School, Economics Section, revised Oct 2008.
- Helmuts Azacis & Max Gillman, 2008. "Flat Tax Reform.The Baltics 2000 – 2007," CERS-IE WORKING PAPERS 0825, Institute of Economics, Centre for Economic and Regional Studies.
- Alvarez-Cuadrado, Francisco, 2008.
"Growth outside the stable path: Lessons from the European reconstruction,"
European Economic Review, Elsevier, vol. 52(3), pages 568-588, April.
- Francisco Alvarez-Cuadrado, 2006. "Growth Outside The Stable Path: Lessons From The European Reconstruction," Departmental Working Papers 2006-02, McGill University, Department of Economics.
- Terutomo Ozawa & Sergio Castello, 2001. "Toward an 'International Business' Paradigm of Endogenous Growth: Multinationals and Governments as Co-Endogenisers," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 8(2), pages 211-228.
- Fiseha Gebregziabher & Miguel Niño-Zarazúa, 2014. "Social Spending and Aggregate Welfare in Developing and Transition Economies," WIDER Working Paper Series wp-2014-082, World Institute for Development Economic Research (UNU-WIDER).
More about this item
Keywords
optimal control; direct methods; transitional dynamics; economic growth; non-steady state shocks; sequential shocks.;All these keywords.
JEL classification:
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
- O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
NEP fields
This paper has been announced in the following NEP Reports:- NEP-CMP-2013-10-05 (Computational Economics)
- NEP-DGE-2013-10-05 (Dynamic General Equilibrium)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:por:fepwps:506. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: https://edirc.repec.org/data/fepuppt.html .
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (email available below). General contact details of provider: https://edirc.repec.org/data/fepuppt.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.