Modelling vintage structures with DDEs: Principles and applications

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

No 2004-07, Working Papers from FEDEA

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

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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 (2004)
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