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Dynamic programming is the essential tool in dynamic economic analysis. Problems such as portfolio allocation for individuals and optimal economic growth are typical examples. Numerical methods typically approximate the value function. Recent work has focused on making numerical methods more...
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We solve the problem of a social planner who seeks to minimize inequality via transfers with a fixed public budget in a … case of the Gini coefficient, the bisection method can be used. We implement the procedures using artificial and real-world …
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