The dynamic heterogeneous economies studied are described by a collection of heterogenous indi- viduals, their individual states and an aggregate state, such that the individuals' actions are given by the policy obtained from an optimization program and the aggregate law of motion is given by...

We consider a sequence of discounted cost, constrained Markov control processes (CCPs) with countable state space, metric action set and possibly unbounded cost functions. We give conditions under which the sequence of optimal values of the CCPs converges to the optimal value of a limiting CCP,...

We consider a sequence of discounted cost, constrained Markov control processes (CCPs) with countable state space, metric action set and possibly unbounded cost functions. We give conditions under which the sequence of optimal values of the CCPs converges to the optimal value of a limiting CCP,...

Dans les débats contemporains relatifs à la dollarisation/euroisation, les analyses font appel aux modèles de substitution et à l'analyse coûts/avantages. Le papier a pour objet de dépasser ces interprétations fondées sur une conception fonctionnaliste de la monnaie. Une conception...

We consider a sequence of discounted cost, constrained Markov control processes (CCPs) with countable state space, metric action set and possibly unbounded cost functions. We give conditions under which the sequence of optimal values of the CCPs converges to the optimal value of a limiting CCP,...