BSU Bulletin. Mathematics, Informatics
Bibliographic description:
, OPTIMAL CONTROL APPROACH TO THE SOLOW GROWTH THEORY // BSU Bulletin. Mathematics, Informatics. - 2017. №2. . - С. 71-75.
Title:
OPTIMAL CONTROL APPROACH TO THE SOLOW GROWTH THEORY
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Annotation:
We formulate the classical growth theory model as an optimal control problem. The obtained problem has constraints imposed on trajectory as well as control. Also we show that the Solow growth model is a particular case of the proposed model.
Keywords:
growth theory; optimal control; trajectory; Lagrange method.
List of references:
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Enkhbat R. Quasiconvex Programming and its Applications. Lambert Publisher, Germany, 2009.
Gregory Mankiw H. Macro Economics. Harvard University, Worth Publisher, 2000.
Horst R., Pardalos Panos M., Thoat N. Introduction to Global Optimization. Kluwer Academic Publishers, 1995.
Robert Solow. A Contribution to the Theory of Economic Growth // Quarterly Journal of Economics. 1956. No. 70. Pp. 65–94.
Vasiliev O. V. Optimization Methods. World Federation Publisher,1996.
Enkhbat R. Quasiconvex Programming and its Applications. Lambert Publisher, Germany, 2009.
Gregory Mankiw H. Macro Economics. Harvard University, Worth Publisher, 2000.
Horst R., Pardalos Panos M., Thoat N. Introduction to Global Optimization. Kluwer Academic Publishers, 1995.
Robert Solow. A Contribution to the Theory of Economic Growth // Quarterly Journal of Economics. 1956. No. 70. Pp. 65–94.
Vasiliev O. V. Optimization Methods. World Federation Publisher,1996.
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