Principle the solution to this problem can be found quite easily.' The current-value Hamiltonian can be written

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Principle the solution to this problem can be found quite easily.' The current-value Hamiltonian can be written as:

7-1(t) e-rt [F (N (0, K(t)) - w(t)N(t) - - Mt)] 'S. (' (0)

+ q(t) [I (t) - 6K(t)1]. (4.5)

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Foundations Of Modern Macroeconomics

ISBN: 9781264857937

1st Edition

Authors: Ben J. Heijdra, Frederick Van Der Ploeg

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