Smooth dynamics and computation in models of economic growth

Research output: Contribution to journalArticle

14 Citations (Scopus)

Abstract

In this paper we give an overview of the differentiability properties of the value and policy functions of dynamic programming. Based upon the differentiability analysis, we also derive approximation estimates for the value and policy functions of a discretized model amenable to the computation of optimal solutions.

Original languageEnglish (US)
Pages (from-to)879-895
Number of pages17
JournalJournal of Economic Dynamics and Control
Volume18
Issue number3-4
StatePublished - May 1994
Externally publishedYes

Fingerprint

Economic Growth
Differentiability
Economics
Dynamic programming
Dynamic Programming
Optimal Solution
Approximation
Model
Estimate
Policy
Economic growth
Policy function
Value function
Optimal solution

Keywords

  • Computation
  • Dynamic programming
  • Economic growth models
  • Value and policy functions

ASJC Scopus subject areas

  • Economics and Econometrics
  • Control and Optimization

Cite this

Smooth dynamics and computation in models of economic growth. / Santos, Manuel.

In: Journal of Economic Dynamics and Control, Vol. 18, No. 3-4, 05.1994, p. 879-895.

Research output: Contribution to journalArticle

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