BOUCEKKINE, Raouf; CAMACHO, Carmen; ZOU, Benteng - Center for Operations Research and Econometrics (CORE), … - 2006
We study a Ramsey problem in infinite and continuous time and space. The problem is discounted both temporally and spatially. Capital flows to locations with higher marginal return. We show that the problem amounts to optimal control of parabolic partial differential equations (PDEs). We rely on...
