Welfare Analysis of HIV/AIDS: Formulating and Computing a Continuous Time Overlapping Generations Policy Model

Jamsheed Shorish

No 211, Economics Series from Institute for Advanced Studies

Abstract: We introduce a continuous time overlapping generations demographic model, in which a social planner seeks to generate an optimal policy for influencing the demographic change of the underlying population in a neoclassical growth model. The model has the notable feature that the underlying state space is a continuum, leading to a Hamilton-Jacobi-Bellman PDE system which is defined over a Hilbert space generated by the ages of the population cohorts. In this technical report the dynamic programming problem is presented and the numerical approximation using a finite difference approximation is derived. This analysis is part of a larger research program on welfare analysis and policy development for the HIV/AIDS global pandemic.

Keywords: Optimal control; continuous time overlapping generations; Hamilton-Jacobi-Bellman PDE; finite difference approximation; HIV/AIDS; demographic modeling (search for similar items in EconPapers)
JEL-codes: C61 C63 D61 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2007-05
New Economics Papers: this item is included in nep-afr, nep-dge and nep-hea
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https://irihs.ihs.ac.at/id/eprint/1772 First version, 2007 (application/pdf)

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Working Paper: Welfare analysis of HIV/AIDS: Formulating and computing a continuous time overlapping generations policy model (2007)
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