Implicit Programming and the Invariant Manifold for Ramsey Equilibria
Robert Becker and
Working Papers from Indiana - Center for Econometric Model Research
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)
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.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
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 ().