Modelling vintage structures with DDEs: principles and applications

Raouf Boucekkine (), David de la Croix and Omar Licandro ()

No ECO2004/06, Economics Working Papers from European University Institute

Abstract: A comprehensive study of the linkages between demographic and economic variables should not only account for vintage specificity but also incorporate the relevant economic and demographic decisions in a complete optimal control set-up. In this paper, a methodological set-up allowing to reach these objectives is described. In this framework, time is continuous but agents take discrete timing decisions. The mixture of continuous and discrete time yields differential-difference equations (DDEs). This paper shows clearly that the approach allows for a relatively complete and rigorous analytical exploration in some special cases (mainly linear or quasi linear models), and for an easy computational appraisal in the general case.

JEL-codes: D9 E2 J1 O41 (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (40)

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Related works:
Journal Article: MODELLING VINTAGE STRUCTURES WITH DDEs: PRINCIPLES AND APPLICATIONS (2004)
Working Paper: Modelling vintage structures with DDEs: principles and applications (2004)
Working Paper: Modelling vintage structures with DDEs: principles and applications (2004)
Working Paper: Modelling vintage structures with DDEs: principles and applications (2004)
Working Paper: Modelling vintage structures with DDEs: Principles and applications
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Persistent link: https://EconPapers.repec.org/RePEc:eui:euiwps:eco2004/06

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