Optimal consumption Ramsey model. Solve the Ramsey problem, finding the optimal capital path K*(t), such that the
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Optimal consumption Ramsey model. Solve the Ramsey problem, finding the optimal capital path K*(t), such that the following functional is maximized: UðKÞ ¼ Z 1 0 ½UðCðtÞÞe t=4 dt ¼ Z 1 0 ln 2K K' e t=4 dt s:t: Kð0Þ ¼ 5 and KðTÞ ¼ 7
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Elements Of Numerical Mathematical Economics With Excel Static And Dynamic Optimization
ISBN: 9780128176498
1st Edition
Authors: Giovanni Romeo
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