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Please use this identifier to cite or link to this item:
http://hdl.handle.net/10016/2763
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| Title: | On the policy function in continuos time economic models |
| Author(s): | Santos, Manuel S. |
| Publisher: | Universidad Carlos III de Madrid. Departamento de Economía |
| Issued date: | Feb-1991 |
| URI: | http://hdl.handle.net/10016/2763 |
| Abstract: | In this paper, I consider a general class of continuous-time economic models with unbounded horizon. I study the sets of conditions under which the policy function is continuous, Lipschitz continuous, and Cl differentiable. 1 also single out certain postulates which may prevent higher-order differentiability. The analysis provides, therefore, a fmn foundation to the use of dynamic programming methods in continuous time models with unbounded horizon |
| Serie / Nº.: | Working Papers
1991-04 |
| Keywords: | Policy Functions
Continuous Time Models
Continuity
Lipschitz Continuity
Differentiability |
| Appears in Collections: | DE - Working Papers. Economics. WE
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