Article ID Journal Published Year Pages File Type
5098609 Journal of Economic Dynamics and Control 2014 13 Pages PDF
Abstract
We characterize the location, stability and approach-time of optimal steady states in single-state, infinite-horizon, autonomous models by means of a simple function of the state variable, defined in terms of the model's primitives. The method does not require the solution of the underlying dynamic optimization problem. Its application is illustrated in the context of a generic class of resource management problems.
Related Topics
Physical Sciences and Engineering Mathematics Control and Optimization
Authors
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