In this paper a family of optimal control problems for economic models is considered, whose state variables are driven by Delay Differential Equations (DDE's). Two main examples are illustrated: an AK model with vintage capital and an advertising model with delay e ect. These problems are very...

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 and more than one consumption good exists.

This paper characterizes the optimal time paths of extraction of several nonrenewable resource deposits with different costs of extraction when the extracted resource can be converted into productive capital and the extraction process, as well as the production of the substitute, requires two...

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 and more than one consumption good exists.

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 and more than one consumption good exists.

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 and the the instantaneous utility function of the representative agent has two properties: (a) the intertemporal elasticity of...

Modern production theory (Kurz and Salvadori, 1995) is utilized to provide a textual analysis of the famous chapter "On Machinery" added by Ricardo in the third edition of his Principles and to reconstruct the examples that are reported there. Two sets of assumptions that rationalize the basic...

This paper extends Bruno's (1967) one capital good two-sector growth model with discrete technology by allowing multiple primary factors of production. While the existence of an optimal steady state is established for any positive rate of discount, an example in which three "modified golden...

This paper extends Bruno's (1967) one capital good two-sector growth model with discrete technology by allowing for multiple primary factors of production. While the existence of an optimal steady state is established for any positive rate of discount, an example in which three "modified golden...

A benchmark AK optimal growth model with maintenance expenditures and endogenous utilization of capital is considered within an explicit vintage capital framework. Scrapping is endogenous, and the model allows for a clean distinction between age and usage dependent capital depreciation and...