{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-20T19:05:32-04:00", "answer_date": "2024-06-20 19:05:32", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "3356818", "url": "\/study-help\/questions\/1-consider-the-following-q-problem-in-continuous-time-vk-3356818", "question_creation_date_js": "2024-06-20T19:05:32-04:00", "question_creation_date": "Jun 20, 2024 07:05 PM", "meta_title": "[Solved] 1. Consider the following q problem in co | SolutionInn", "meta_description": "Answer of - 1. Consider the following q problem in continuous time: v[K. 0] = max(), Jet(AF[Ka] - h - x* )at dt subject to 9 = \/t, | SolutionInn", "meta_keywords": "1,problem,continuous,time,k,max,jet,af,ka,-,h,x*", "question_title_h1": "1. Consider the following q problem in continuous time: v[K. 0] = max(), Jet(AF[Ka] - h - x* )at dt subject to 9 = \/t,", "question_title": "1. Consider the following q problem in continuous time: v[K. 0] =", "question_title_for_js_snippet": "1 Consider the following q problem in continuous time v K 0 max(), Jet(AF Ka h x )at dt subject to 9 t, Ko is given Here r is the interest rate, and A 0 is the total factor productivity Note that in the problem just stated the capital stock cannot be adjusted instantaneously without incurring prohibitive adjust ment costs More precisely, if , is the amount of capital invested (or dis invested), then the total cost of investment is given by hat , where X is a positive constant (a) Does the model you have a stationary equilibrium If your answer is affirmative, draw a phase diagram to explain the convergence to the stationary equilibrium (b) Show that the value of the Hamiltonian evaluated at each instant t along the optimal traject tory gives the permanent level of utility, i e , the permanent level of real income, of the representa tive agent from instant ton until the end of time", "question_description": "\"image
\"image<\/div><\/div><\/div><\/figure> 1. Consider the following q problem in continuous time: v[K. 0] = max(), Jet(AF[Ka] - h - x* )at dt subject to 9 = \/t, Ko is given. Here r is the interest rate, and A> 0 is the total factor productivity. Note that in the problem just stated the capital stock cannot be adjusted instantaneously without incurring prohibitive adjust- ment costs. More precisely, if \/, is the amount of capital invested (or dis-invested), then the total cost of investment is given by hat : , where X is a positive constant. (a) Does the model you have a stationary equilibrium? If your answer is affirmative, draw a phase diagram to explain the convergence to the stationary equilibrium. (b) Show that the value of the Hamiltonian - evaluated at each instant t along the optimal traject tory - gives the permanent level of utility, i.e., the permanent level of real income, of the representa- tive agent from instant ton until the end of time", "transcribed_text": "", "related_book": { "title": "Principles Of Cost Accounting", "isbn": "978-0840037039, 0840037031", "edition": "15th Edition", "authors": "Edward J. Vanderbeck", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/81.jpg", "uri": "\/textbooks\/principles-of-cost-accounting-15th-edition-9780840037039", "see_more_uri": "" }, "free_related_book": { "isbn": "107672437X", "uri": "\/textbooks\/the-authorities-yavuz-altun-powerful-wisdom-from-leaders-in-the-field-1st-edition-978-1076724373-162680", "name": "The Authorities Yavuz Altun Powerful Wisdom From Leaders In The Field", "edition": "1st Edition" }, "question_posted": "2024-06-20 19:05:32", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/once-rutherford-and-geiger-determined-the-chargetomass-ratio-of-the", "description": "Once Rutherford and Geiger determined the charge-tomass ratio of the particle (Problem 71), they performed another experiment to determine its charge. 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