Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/22475 
Kompletter Metadatensatz
DublinCore-FeldWertSprache
dc.contributor.authorTrimborn, Timoen
dc.date.accessioned2009-01-29T14:59:59Z-
dc.date.available2009-01-29T14:59:59Z-
dc.date.issued2007-
dc.identifier.urihttp://hdl.handle.net/10419/22475-
dc.description.abstractWe derive the well-known continuity principle for adjoint variables for preannounced or anticipated changes in parameters for continuoustime, infinite-horizon, perfect foresight optimization models. For easy and intuitive numerical computation of the resulting multi point boundary value problem we suggested to simulate the resulting differential algebraic system representing the first order conditions. By ensuring that the state variables and the adjoint variables are continuous, potential jumps in the control variables are calculated automatically. This can be easily conducted with the relaxation algorithm as proposed by Trimborn et al. (2007). We solve a Ramsey model extended by an elementary Government sector numerically. Simulations of a preannounced increase in the consumption tax show a qualitative different pattern depending on the intertemporal elasticity of substitution.en
dc.language.isoengen
dc.publisher|aLeibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät |cHannoveren
dc.relation.ispartofseries|aDiskussionsbeitrag |x363en
dc.subject.jelO40en
dc.subject.jelC63en
dc.subject.jelC61en
dc.subject.ddc330en
dc.subject.keywordanticipated shocksen
dc.subject.keywordcontinuous-time optimizationen
dc.subject.keywordnumerical solutionen
dc.titleAnticipated Shocks in Continuous-time Optimization Models: Theoretical Investigation and Numerical Solution-
dc.typeWorking Paperen
dc.identifier.ppn528419242en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:han:dpaper:dp-363en

Datei(en):
Datei
Größe
192.4 kB





Publikationen in EconStor sind urheberrechtlich geschützt.