Haunschmied, J.L., Kort, P.M., Hartl, R.F., Feichtinger, G. - Society for Computational Economics - SCE - 2001
In this paper we study a capital accumulation model in an optimal control theoretic framework, where the capital stock and the investment rate are modeled as state variables and the change in the investment rate as control. Adjustment costs are introduced for both investment rate and the change...