Publication
Title
Delay equivalence in capital accumulation models
Author
Abstract
We study delays in capital accumulation models. Our contribution is threefold. First, we identify a class of models that can be transformed into standard optimal control models without delay. Second, in the single state versions of these models the state trajectory is monotonic in the optimal solution. This is noteworthy given the common belief that adding delays facilitates oscillatory behavior of capital, output and investment. Third, we identify an equivalence result between time-to-install/deliver problems and time-to-build problems.
Language
English
Source (journal)
Journal of mathematical economics. - Amsterdam
Publication
Amsterdam : 2010
ISSN
0304-4068
Volume/pages
46:6(2010), p. 1243-1246
ISI
000285224900021
Full text (Publisher's DOI)
Full text (publisher's version - intranet only)
UAntwerpen
Faculty/Department
Research group
Publication type
Subject
Affiliation
Publications with a UAntwerp address
External links
Web of Science
Record
Identification
Creation 08.02.2011
Last edited 05.08.2017
To cite this reference