Existence of optimal strategies in linear multisector models |
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| Authors: | Giuseppe Freni Fausto Gozzi Neri Salvadori |
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| Affiliation: | (1) Dipartimento di Studi Economici, Facoltà di Economia, Università Parthenope, via Medina 40, 80133 Napoli, Italy;(2) Dipartimento di Scienze Economiche ed Aziendali, Facoltà di Economia, Università LUISS – Guido Carli, vial Pola 12, 00198 Roma, Italy;(3) Dipartimento di Scienze Economiche,Facoltà di Economia, Università di Pisa, via Ridolfi 10, 56124 Pisa, Italy |
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| Abstract: | In this paper, we give a sufficient and almost necessary condition for the existence of optimal strategies in linear multisector models when time is continuous, consumption is limited to one commodity, the instantaneous utility is of the CES type, and available technology allows a positive growth rate.JEL Classification Numbers: C62, O41 We thank an anonymous referee of this journal for careful scrutiny and very useful suggestions |
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| Keywords: | Endogenous growth Optimal control with mixed constraints von Neumann growth model |
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