On the dynamics of capital accumulation across space

Carmen Camacho, Benteng Zou and Maya Briani
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Maya Briani: IAC - Istituto per le Applicazioni del Calcolo "Mauro Picone" - CNR - National Research Council of Italy | Consiglio Nazionale delle Ricerche

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Abstract: We solve an optimal growth model in continuous space, continuous and bounded time. The optimizer chooses the opti- mal trajectories of capital and consumption across space and time by maximizing an objective function with both space and time discounting. We extract the corresponding Pontryagin conditions and prove their sufficiency. We end up with a system of two parabolic differential equations with the corresponding boundary conditions. We propose a simple numer- ical set-up to simulate PDE systems which we employ to study the roles of initial capital and technology distributions over space in various scenarios.

Date: 2008-04
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Citations: View citations in EconPapers (32)

Published in European Journal of Operational Research, 2008, 186, pp.451-465. ⟨10.1016/j.ejor.2007.02.031⟩

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Working Paper: On the dynamics of capital accumulation across space (2011)
Journal Article: On the dynamics of capital accumulation across space (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00683807

DOI: 10.1016/j.ejor.2007.02.031

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