Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/43755
Authors: 
Camacho, Carmen
Zou, Benteng
Briani, Maya
Year of Publication: 
2005
Series/Report no.: 
Working papers // Institute of Mathematical Economics 376
Abstract: 
We solve an optimal growth model in continuous space, continuous and bounded time. The optimizer chooses the optimal trajectories of capital and consumption across space and time by maximizing an objective function with both space and time discounting. We extract the corresponding Pontryagin conditions and prove their sufficiency. We end up with a system of two parabolic differential equations with the corresponding boundary conditions. Then, we study the roles of initial capital and technology distributions over space in various scenarios.
Subjects: 
Economics
Economic geography
Parabolic differential equations
Optimal control
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

Files in This Item:
File
Size
423.45 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.