Bhattacharya, Joydeep; Bunzel, Helle - Iowa State University of Science and Technology <Ames, … - 2003
This paper takes a discrete-time adaptation of the continuous−time matching economy described in Pissarides (1990, 2000), and computes the solution to the dynamic planning problem. The solution is shown to be completely characterized by a first−order, non−linear map. We show that the map...