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Jiang, Wei; Sargent, Thomas J.; Wang, Neng - National Bureau of Economic Research - 2024

Lucas and Stokey (1983) motivated future governments to confirm an optimal tax plan by rescheduling government debt appropriately. Debortoli et al. (2021) showed that sometimes that does not work. We show how a Ramsey plan can always be implemented by adding instantaneous debt to Lucas and...

Persistent link: https://www.econbiz.de/10014635621

Optimal Dynamic R&D Programs

Grossman, Gene M. - 1985

We study the optimal pattern of outlays for a single firm pursuing an R&D program over time. In the deterministic case, (a) the amount of progress required to complete the project is known, and (b) the relationship between outlays and progress is known. In this case, it is optimal to increase...

Persistent link: https://www.econbiz.de/10012477422

Dynamic Optimization in Two-Party Models

McKibbin, Warwick J. - 1987

The goal of this paper is to study the problem of optimal dynamic policy formulation with competing political parties. We study a general class of problems, in which the two competing political parties have quadratic intertemporal objective functions, and in which the economy has a linear...

Persistent link: https://www.econbiz.de/10012476856

Nonlinear Programming Method for Dynamic Programming

Cai, Yongyang - 2013

the linear approach to dynamic programming by using ideas from approximation theory to avoid inefficient discretization …

Persistent link: https://www.econbiz.de/10012459628

Solving Dynamic Programming Problems on a Computational Grid

Cai, Yongyang - 2013

We implement a dynamic programming algorithm on a computational grid consisting of loosely coupled processors, possibly including clusters and individual workstations. The grid changes dynamically during the computation, as processors enter and leave the pool of workstations. The algorithm is...

Persistent link: https://www.econbiz.de/10012459947

Production Within the Household

Leibowitz, Arleen - 1974

in labor force participation has been accompanied by changes in allocation of time to various activities in the household … as well. Since the proportion of women in the labor force has been rising, the average amount of time input to household … tasks by all women has been declining over the last 50 years. It is valuable to analyze this in the household production …

Persistent link: https://www.econbiz.de/10012479098

Contraception and Fertility : Household Production Under Uncertainty

Michael, Robert T. - 1973

Over the past century fertility behavior in the United Stated has undergone profound changes Measured by cohort fertility the average number of children per married woman had declined from about 5.5 children at the time of the Civil War to 2.4 children at the time of the Great Depression. It is...

Persistent link: https://www.econbiz.de/10012479104

Heterogeneous Households under Uncertainty

Veronesi, Pietro - 2019

I characterize a dynamic economy under general distributions of households' risk tolerance, endowments, and beliefs about long-term growth. As the economy expands and the stock market rises (a) the fraction of households with declining consumption-share increases; (b) the wealth-share of high...

Persistent link: https://www.econbiz.de/10012479404

Optimal Monetary and Fiscal Policy : A Linear Quadratic Approach

Benigno, Pierpaolo - 2003

We propose an integrated treatment of the problems of optimal monetary and fiscal policy, for an economy in which prices are sticky and the only available sources of government revenue are distorting taxes. Our linear-quadratic approach allows us to nest both conventional analyses of optimal...

Persistent link: https://www.econbiz.de/10012468792

Dynamic Programming on a Quantum Annealer : Solving the RBC Model

Fernández-Villaverde, Jesús; Hull, Isaiah J. - National Bureau of Economic Research - 2023

We introduce a novel approach to solving dynamic programming problems, such as those in many economic models, on a quantum annealer, a specialized device that performs combinatorial optimization. Quantum annealers attempt to solve an NP-hard problem by starting in a quantum superposition of all...

Persistent link: https://www.econbiz.de/10014322714

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