Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/72696
Authors: 
Shorish, Jamsheed
Year of Publication: 
2007
Series/Report no.: 
Reihe Ökonomie / Economics Series, Institut für Höhere Studien (IHS) 211
Abstract: 
We introduce a continuous time overlapping generations demographic model, in which a social planner seeks to generate an optimal policy for influencing the demographic change of the underlying population in a neoclassical growth model. The model has the notable feature that the underlying state space is a continuum, leading to a Hamilton-Jacobi-Bellman PDE system which is defined over a Hilbert space generated by the ages of the population cohorts. In this technical report the dynamic programming problem is presented and the numerical approximation using a finite difference approximation is derived. This analysis is part of a larger research program on welfare analysis and policy development for the HIV/AIDS global pandemic.
Subjects: 
optimal control
continuous time overlapping generations
Hamilton-Jacobi-Bellman PDE
finite difference approximation
HIV/AIDS
demographic modeling
JEL: 
C61
C63
D61
Document Type: 
Working Paper

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