Modelling vintage structures with DDEs: principles and applications

Raouf Boucekkine, David de la Croix and Omar Licandro ()

No 2004047, LIDAM Discussion Papers CORE from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)

Abstract: A comprehensive study of the linkages between demographic and economic variables should not only account for vintage specificity but also incorporate the relevant economic and demographic decisions in a complete optimal control set-up. Inthis paper, a methodological set-up allowing to reach these objectives is described. In this framework, time is continuous but agents take discrete timing decisions. The mixture of continuous and discrete time yields differential-difference equations(DDEs). This paper shows clearly that the approach allows for a relatively complete and rigorous analytical exploration in some special cases (mainly linear or quasi linear models), and for an easy computational appraisal in the general case.

Keywords: demography; economic growth; vintage structures; optimal control; differential-difference equations; state-dependence (search for similar items in EconPapers)
Date: 2004-07
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (41)

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Related works:
Journal Article: MODELLING VINTAGE STRUCTURES WITH DDEs: PRINCIPLES AND APPLICATIONS (2004)
Working Paper: Modelling vintage structures with DDEs: principles and applications (2004)
Working Paper: Modelling vintage structures with DDEs: principles and applications (2004)
Working Paper: Modelling vintage structures with DDEs: principles and applications (2004)
Working Paper: Modelling vintage structures with DDEs: Principles and applications
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Persistent link: https://EconPapers.repec.org/RePEc:cor:louvco:2004047

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