Benigno, Pierpaolo (contributor); … - 2004
describes the
long run character of Ramsey policy, in the event that disturbances are small enough.
Of greater interest here, it … disturbances.
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in the event of small disturbances.
We flrst must show the existence of a steady state, i.e., of an optimal … optimal
policy in the event of small enough disturbances. We begin by establishing conditions
under which the second …