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Stochastic optimal control modeling of debt crises
Stein, Jerome L. - 2003
What is an optimal or a sustainable external debt - for a country, region or sector? How should one monitor and evaluate debt to preclude a crisis? We use stochastic optimal control/dynamic programming to derive an optimal debt. The deviation of the actual from the optimal will serve as a...
Persistent link: https://www.econbiz.de/10011509487
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Systems of innovation : growth, competitiveness and employment
Edquist, Charles (contributor);  … - 2000
Persistent link: https://www.econbiz.de/10001442701
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Distribution and growth in an economy with limited needs
Saint-Paul, Gilles - 2001
This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
Persistent link: https://www.econbiz.de/10011398011
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Investment-specific vs process innovation in a CGE model of environmental policy
Baccianti, Claudio; Löschel, Andreas - 2015
The European Union has implemented demand push and technology pull policies to foster innovation on the energy and … rarely treats product and process innovation separately and product quality is, in the best case, exogenous. We develop a … dynamic multi-sector CGE model that distinguishes between R&D-based process innovation for all firms, endogenous product …
Persistent link: https://www.econbiz.de/10011337045
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Schumpeterian Entrepreneurs Meet Engel's Law : The Impact of Inequality on Innovation-Driven Growth
Zweimüller, Josef - 2000
technical and a pecuniary externality resulting from the innovation process may generate multiple equilibria. Redistribution may …
Persistent link: https://www.econbiz.de/10014215329
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Stochastic Optimal Control, International Finance and Debt
Fleming, Wendell H.; Stein, Jerome L. - 2021
We use stochastic optimal control-dynamic programming (DP) to derive the optimal foreign debt/net worth, consumption/net worth, current account/net worth, and endogenous growth rate in an open economy. Unlike the literature that uses an Intertemporal Budget Constraint (IBC) or the Maximum...
Persistent link: https://www.econbiz.de/10013320476
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A Stochastic Optimal Control Approach to International Finance and Foreign Debt
Fleming, Wendell H.; Stein, Jerome L. - 2021
The recent financial crises, especially the debt crisis in Asia, have led to questions such as: what are their causes, what is an excessive debt and how vulnerable is an economy to external shocks; We develop an economic model of international finance and debt based upon two sources of...
Persistent link: https://www.econbiz.de/10013321296
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Modernizing the Chinese Way : Effect of Big-Science Research Infrastructure on China’s Indigenous Science Growth
Yang, Xiyi; Zhou, Xiaoyu; Cao, Cong - 2022
improve their indigenous innovation and catch up with developed countries. Using data on China-based scientific publications … China lacks originality and indigenous innovation capability …
Persistent link: https://www.econbiz.de/10013294143
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Macro-regional economic structural change driven by micro-founded technological innovation diffusion : an agent-based computational economic modeling approach
Zhong, Zhangqi; He, Lingyun - In: Computational economics 59 (2022) 2, pp. 471-525
Persistent link: https://www.econbiz.de/10013169019
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Promoting entrepreneurship in the welfare state
Henrekson, Magnus; Roine, Jesper - 2006
widely recognized that the supply of entrepreneurial talent is likely to be important for economic growth, innovation and job …
Persistent link: https://www.econbiz.de/10010281159