Journal article
Globally optimal paths in the nonclassical growth model
Computers & mathematics with applications (1987), Vol.18(6), pp.663-674
1989
DOI: 10.1016/0898-1221(89)90116-8
Abstract
We consider the nonclassical optimal growth model, consisting of convex preferences and a convex-concave production function. We give necessary and sufficient conditions for a feasible path of one-period consumptions to be globally optimal. In the process, we also characterize locally optimal paths, and present an example which illustrates most points of interest.
The analysis is based on an altered dynamic programming approach.
Details
- Title: Subtitle
- Globally optimal paths in the nonclassical growth model
- Creators
- R. Amir - Stony Brook University
- Resource Type
- Journal article
- Publication Details
- Computers & mathematics with applications (1987), Vol.18(6), pp.663-674
- DOI
- 10.1016/0898-1221(89)90116-8
- ISSN
- 0898-1221
- eISSN
- 1873-7668
- Publisher
- Elsevier Ltd
- Language
- English
- Date published
- 1989
- Academic Unit
- Economics
- Record Identifier
- 9984380540702771
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