Smooth dynamics and computation in models of economic growth

Research output: Contribution to journalArticle

14 Scopus citations

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
DOIs
StatePublished - Jan 1 1994
Externally publishedYes

Keywords

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

ASJC Scopus subject areas

  • Economics and Econometrics
  • Control and Optimization
  • Applied Mathematics

Fingerprint Dive into the research topics of 'Smooth dynamics and computation in models of economic growth'. Together they form a unique fingerprint.

  • Cite this