We study an economy in which firms use labor and various vintages of capital in a CES production function for the final good. We explicitly solve for the investment in capital of a …
Vintage capital growth models have been at the heart of growth theory in the 1960s. This research line collapsed in the late 1960s with the so-called embodiment controversy and the …
In this paper, we consider a discrete-time optimal control problem related to the model of Robinson, Solow and Srinivasan. We analyze this optimal control problem without concavity …
EV Markova, DN Sidorov - Automation and Remote Control, 2014 - Springer
We develop an approach for constructing continuous solutions of integral Volterra equations of the first kind that arise in modeling developing dynamical systems. We give existence …
An optimal harvesting problem is analyzed in the Lotka–McKendrick model of age-structured populations. Depending on the imposed constraints, this problem possesses bang-bang or …
For more than 70 years now, there has been a lot of research activity regarding the turnpike theory and infinite horizon optimal control. This activity stems from Samuelson's discovery of …
In this book we study the turnpike phenomenon arising in the optimal control theory. The term was first coined by P. Samuelson in 1948 when he showed that an efficient expanding …
This paper studies to which extent a firm using a scarce resource input and facing environmental regulation can still manage to have a sustainable growth of output and profits …