On the optimal timing of regime switching in optimal growth models : a sobolev space approach

Date

2007

Editor(s)

Advisor

Sağlam, Hüseyin Çağrı

Supervisor

Co-Advisor

Co-Supervisor

Instructor

BUIR Usage Stats
4
views
36
downloads

Series

Abstract

In this thesis, we derive the necessary conditions of optimality of regime switching in optimal growth models, and extend the already established results in the literature to cover the multi-stage infinite horizon models depending explicitly to the switching instant. To this end, we utilize standard techniques from calculus of variations, and some basic properties of Sobolev spaces. We compare our results with previously established ones. In an application, we analyze the determinants of timing of technological adoption, under linearly expanding technological frontier.

Source Title

Publisher

Course

Other identifiers

Book Title

Degree Discipline

Economics

Degree Level

Master's

Degree Name

MA (Master of Arts)

Citation

Published Version (Please cite this version)

Language

English

Type