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Contenido archivado el 2024-05-07

Applications of optimal control theory in a model of endogenous growth

Objetivo



The aim of this research is to investigate the effects of optimal economic policy on rates of economic growth. The framework is that of a general equilibrium model of endogenous growth, in which the rate of growth depends on preferences, technology and government policies. In this context optimal economic policies can play an important role in promoting growth.
In the recent literature on applied optimal control theory the private sector is considered to be forward-looking. We propose to follow the analytical approach and use the mathematical tools of optimal control theory in the context of the conflicting behaviour which characterises the theory of games and to apply it in order to study the political economy of-growth.
Instead, much of the conventional literature on endogenous growth does not follow this optimisation approach, but provides only ordinary simulations, thus not providing the best outcome given the preferences in the economic system.

Ámbito científico (EuroSciVoc)

Programa(s)

Tema(s)

Convocatoria de propuestas

Datos no disponibles

Régimen de financiación

RGI - Research grants (individual fellowships)

Coordinador

The Victoria University of Manchester
Aportación de la UE
Sin datos
Dirección

M13 9PL Manchester
Reino Unido
Coste total
Sin datos

Participantes (1)