Optimal growth models with bounded or unbounded returns: a unifying approach

Cuong Le van and Lisa Morhaim

No 2001034, LIDAM Discussion Papers CORE from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)

Abstract: In this paper we propose a unifying approach to study optimal growth models with bounded or unbounded returns (above/below). We prove existence of optimal solutions. We prove also, without using contraction method, that the Value function is the unique solution to the Bellman equation in some classes of functions. The value function can be obtained by the usual algorithm defined by the operator provided by the Bellman equation. The well-known results, and those in Alvarez and Stokey (1998) can be obtained from this paper.

Date: 2001-08
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Related works:
Journal Article: Optimal Growth Models with Bounded or Unbounded Returns: A Unifying Approach (2002)
Working Paper: Optimal Growth Models with Bounded or Unbounded Returns: a Unifying Approach (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:cor:louvco:2001034

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