TY  - GEN
AB  - We solve an optimal growth model in continuous space, continuous and bounded time. The optimizer chooses the optimal trajectories of capital and consumption across space and time by maximizing an objective function with both space and time discounting. We extract the corresponding Pontryagin conditions and prove their sufficiency. We end up with a system of two parabolic differential equations with the corresponding boundary conditions. Then, we study the roles of initial capital and technology distributions over space in various scenarios.
DA  - 2005
KW  - Optimal control
KW  - Economic geography
KW  - Parabolic differential equations
KW  - Economics
LA  - eng
PY  - 2005
SN  - 0931-6558
TI  - On the dynamics of capital accumulation across space
UR  - https://nbn-resolving.org/urn:nbn:de:hbz:361-8249
Y2  - 2024-11-22T13:52:05
ER  -