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The short-run dynamics of optimal growyh models with delays


Collard, Fabrice y Licandro, Omar y Puch, Luis A. (2003) The short-run dynamics of optimal growyh models with delays. [ Documentos de trabajo. Instituto Complutense de Análisis Económico (ICAE); nº 0311, 2003, ]

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Differential equations with advanced and delayed time arguments may arise in the optimality conditions of simple growth models with delays. Models with investment gestation lags (time-to-build), consumption gestation lags (habit formation) or learning by using lie in this category. In this paper, we propose a shooting method to deal with leads and lags in the Euler system associated to dynamic general
equilibrium models in continuous time. We introduce the discussion describing the dynamics that emerge under various assumptions on learning by using and gestation lags. Then, we implement the numerical method we propose to solve for the short run dynamics of a neoclassical growth model with a simple time-to-build lag.

Tipo de documento:Documento de trabajo o Informe técnico
Información Adicional:

JEL clasification: O40, E32, C63

Palabras clave:Time-to-build, Shooting method, DDEs
Materias:Ciencias Sociales > Economía > Econometría
Título de serie o colección:Documentos de trabajo. Instituto Complutense de Análisis Económico (ICAE)
Código ID:7715

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Depositado:11 Mar 2008
Última Modificación:06 Feb 2014 07:55

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