Differentiability and comparative analysis in discrete-time infinite-horizon optimization

Manuel S. Santos

Journal of Economic Theory, 1992, vol. 57, issue 1, 222-229

Abstract: In this note I consider a family of discrete-time intertemporally separable optimization problems with unbounded horizon in which the objective is parameterized by a finite dimensional vector. Under standard assumptions, I show that optimal solutions vary smoothly with the initial state and the vector of parameters. These results provide a basic framework to develop the familiar methods of comparative analysis in a dynamic setting. Likewise, the local analysis of equilibria set out by Kehoe, Levine, and Romer [J. Econ. Theory50 (1990), 1–21] is extended here to economies with general equilibrium dynamics.

Date: 1992
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Citations: View citations in EconPapers (22)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:57:y:1992:i:1:p:222-229

DOI: 10.1016/S0022-0531(05)80049-3

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