RT Generic
T1 Differential-difference equations in economics: on the numerical solution of vintage capital growth models
A1 Boucekkine, Raouf
A1 Licandro, Omar
A1 Paul, Christopher
A2 Universidad Carlos III de Madrid. Departamento de Economía, 
AB In this papel, we examine techniques for the analytical and numerical solution of statedependent differential-difference equations. Such equations occur in the continuous time modelling of vintage capital growth models, which form a particularly important class of models in modern economic growth theory. The theoretical treatment of non-statedependent differential-difference equations in economics has already been discussed by Benhabib and Rustichini (1991). In general, though, the state-dependence of a model prevents its analytical solution in all but the simplest of cases. We review a numerical method for solving state-dependent models, using sorne simple examples to illustrate our discussion. In addition, we analyse the Solow vintage capital growth model. We conclude by mentioning a crucial unresolved issue related to this topic.
SN 2340-5031
YR 1995
FD 1995-12
LK https://hdl.handle.net/10016/3951
UL https://hdl.handle.net/10016/3951
LA eng
DS e-Archivo
RD 6 may. 2024