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

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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.
Item Type:  MPRA Paper 

Original Title:  General Pattern Formation in Recursive Dynamical Systems Models in Economics 
Language:  English 
Keywords:  Pattern formation, spatial spillovers, optimal control, spillover induced instability, growth models 
Subjects:  O  Economic Development, Technological Change, and Growth > O4  Economic Growth and Aggregate Productivity > O41  One, Two, and Multisector Growth Models C  Mathematical and Quantitative Methods > C6  Mathematical Methods; Programming Models; Mathematical and Simulation Modeling > C61  Optimization Techniques; Programming Models; Dynamic Analysis 
Item ID:  12305 
Depositing User:  Anastasios Xepapadeas 
Date Deposited:  21. Dec 2008 07:45 
Last Modified:  12. Feb 2013 15:13 
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URI:  http://mpra.ub.unimuenchen.de/id/eprint/12305 