Logo
Munich Personal RePEc Archive

General Pattern Formation in Recursive Dynamical Systems Models in Economics

Brock, William and Xepapadeas, Anastasios (2008): General Pattern Formation in Recursive Dynamical Systems Models in Economics.

[thumbnail of MPRA_paper_12305.pdf]
Preview
PDF
MPRA_paper_12305.pdf

Download (554kB) | Preview

Abstract

This paper presents a fairly general treatment of recursive infinite horizon forward looking optimizing systems on infinite dimensional spatial domains. It includes optimal control, an analysis of local stability of spatially flat optimal steady states and development of techniques to compute spatially heterogeneous optimal steady states. The paper also develops a concept of rational expectations equilibrium, a local stability analysis for spatially homogeneous rational expectations steady states, and computational techniques for spatially heterogeneous rational expectations steady states.

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.