Optimal consumption of the finite time horizon Ramsey problem

被引：3

作者：

Adachi, Takashi ^{[1
]}

Morimoto, Hiroaki ^{[2
]}

机构：

[1] Fukushima Med Univ, Fukushima 9601295, Japan

[2] Ehime Univ, Dept Math Sci, Fac Sci, Matsuyama, Ehime 7900826, Japan

来源：

JOURNAL OF MATHEMATICAL ANALYSIS AND APPLICATIONS | 2009年 / 358卷 / 01期

关键词：

Ramsey problem; Hamilton-Jacobi-Bellman equation; Viscosity solutions; Economic growth; GROWTH;

D O I：

10.1016/j.jmaa.2009.04.041

中图分类号：

O29 [应用数学];

学科分类号：

070104 ;

摘要：

In this paper, we study the stochastic Ramsey problem related to an economic growth model with the CES production function in a finite time horizon. By changing variables, the Hamilton-Jacobi-Bellman equation associated with this optimization problem is transformed. By the viscosity solution technique, we show the existence of a classical solution of the transformed Hamilton-Jacobi-Bellman equation, and then give an optimal consumption policy of the original problem. (C) 2009 Elsevier Inc. All rights reserved.

引用

页码：28 / 46

页数：19

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