Smoothness of the policy function in continuous-time economic models. The one-dimensional case (Q1177288)
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| Language | Label | Description | Also known as |
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| English | Smoothness of the policy function in continuous-time economic models. The one-dimensional case |
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Smoothness of the policy function in continuous-time economic models. The one-dimensional case (English)
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26 June 1992
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The paper establishes the smoothness of the optimal policy function for the infinite horizon case for problems with strongly concave objective functions. Even though the analysis is limited to the one-dimensional case, the paper performs an extremely useful service for economists, for it legitamizes the deployment of comparative static analysis so frequently used.
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smoothness of the optimal policy function
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infinite horizon
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strongly concave objective functions
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