On the policy function in continuos time economic models

Manuel S. Santos

UC3M Working papers. Economics from Universidad Carlos III de Madrid. Departamento de Economía

Abstract: In this paper, I consider a general class of continuous-time economic models with unbounded horizon. I study the sets of conditions under which the policy function is continuous, Lipschitz continuous, and Cl differentiable. 1 also single out certain postulates which may prevent higher-order differentiability. The analysis provides, therefore, a fmn foundation to the use of dynamic programming methods in continuous time models with unbounded horizon

Keywords: Policy; Functions; Continuous; Time; Models; Continuity; Lipschitz; Continuity; Differentiability (search for similar items in EconPapers)
Date: 1991-02
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Persistent link: https://EconPapers.repec.org/RePEc:cte:werepe:2763

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