The characterization and numerical solution of two non-smooth optimal control problems governed by a Fokker–Planck (FP) equation are investigated in the framework of the Pontryagin maximum principle (PMP). The two FP control problems are related to the problem of determining open- and...

Recent studies document a decline in U.S. labor-market fluidity from as early as the 1970s on. Making use of the Annual Social and Economic supplement to the Current Population Survey, I uncover a pronounced increase in job-to-job mobility from the 1970s to the 1990s, i.e. the annual share of...