This paper deals with an endogenous growth model with vintage capital and, more precisely, with the AK model proposed in [18]. In endogenous growth models the introduction of vintage capital allows to explain some growth facts but strongly increases the mathematical difficulties. So far, in this...

This paper deals with an endogenous growth model with vintage capital and, more precisely, with the AK model proposed in [18]. In endogenous growth models the introduction of vintage capital allows to explain some growth facts but strongly increases the mathematical difficulties. So far, in this...

In this paper a family of optimal control problems for economic models is considered, whose state variables are driven by Delay Differential Equations (DDE's). Two main examples are illustrated: an AK model with vintage capital and an advertising model with delay e ect. These problems are very...

We study several aspects of the dynamic programming approach to optimal control of abstract evolution equations, including a class of semilinear partial differential equations. We introduce and prove a verification theorem which provides a sufficient condition for optimality. Moreover we prove...