Projection method for infinite-horizon economic growth problems

DOI10.1134/S0081543822060062OpenAlexW4321128498MaRDI QIDQ2689283

B. M. Arystanbekov, N. B. Mel'nikov

Publication date: 9 March 2023

Published in: Proceedings of the Steklov Institute of Mathematics (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1134/s0081543822060062

zbMATH Keywords

Galerkin methodtransversality conditionsRamsey modelGauss-Laguerre quadratureBernoulli transformationCRRA utility functioninfinite-horizon control problem

Mathematics Subject Classification ID

Fluid mechanics (76-XX) Numerical analysis (65-XX)

Cites Work

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• The Pontryagin maximum principle and problems of optimal economic growth
• Projection methods for solving aggregate growth models
• The parametric path method: an alternative to Fair--Taylor and L--B--J for solving perfect foresight models.
• Bernoulli substitution in the Ramsey model: optimal trajectories under control constraints
• The Inverse Optimal Problem: A Dynamic Programming Approach
• Public Finance in Models of Economic Growth
• Income and Wealth Distribution in Macroeconomics: A Continuous-Time Approach
• Convergent Difference Schemes for Degenerate Elliptic and Parabolic Equations: Hamilton--Jacobi Equations and Free Boundary Problems

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