EconPapers    
Economics at your fingertips  
 

Implicit Programming and the Invariant Manifold for Ramsey Equilibria

Robert Becker and C. Foias

Working Papers from Indiana - Center for Econometric Model Research

Abstract: We present an economically motivated construction of the global invariant manifold for a class of Ramsey equilibria. This invariant manifold is found by solving a functional equation for an implicit programming problem based on the most patient household's necessary condition for an optimum. An iterative process is given which yields the first agent's optimal policy function in the limit and thereby the invariant manifold.

Keywords: ECONOMIC; EQUILIBRIUM (search for similar items in EconPapers)
JEL-codes: C62 (search for similar items in EconPapers)
Date: 1998
References: Add references at CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fth:indian:98-006

Access Statistics for this paper

More papers in Working Papers from Indiana - Center for Econometric Model Research Indiana University, Center for Econometric Model Research, Department of Economics; Bloomington, IN 47405.. Contact information at EDIRC.
Bibliographic data for series maintained by Thomas Krichel ().

 
Page updated 2019-04-06
Handle: RePEc:fth:indian:98-006