Smooth Dynamics and Computation in Models of Economic Growth
In this paper we give an overview of the differentiability properties of the value and policy functions of dynamic programming. Based upon the differentiability analysis, we also establish approximation estimates for the value and policy functions of a discretized model amenable to the computation of optimal solutions.
Year of publication: |
1993-08
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Authors: | Santos, Manuel S. |
Institutions: | Centro de Investigación Económica (CIE), Departamento Académico de Economía |
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