1,721,135 research outputs found
Growth and financial liberalization under capital collateral constraints: The striking case of the stochastic AK model with CARA preferences
No full textOn the optimal control of some parabolic partial differential equation arising in economics
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Managing spatial linkages and geographic heterogeneity in dynamic models with transboundary pollution
Full text linkWe construct a spatiotemporal frame for the study of spatial economic and ecological patterns generated by transboundary pollution. Space is continuous and polluting emissions originate in the intensity of use of the production input. Pollution flows across locations following a diffusion process. The objective functional of the economy is to set the optimal production policy over time and space to maximize welfare from consumption, taking into account a negative local pollution externality and the diffusive nature of pollution. Our framework allows for space and time dependent preferences and productivity, and does not restrict diffusion speed to be space-independent. Accordingly, we develop a methodology to investigate the environmental and economic implications of spatiotemporal heterogeneity. We propose a method for an analytical characterization of the optimal paths. An application to technological spillovers is proposed for illustration. We focus on the determination of the optimal short-term spatiotemporal dynamics induced by the resulting non-autonomous problems
A dynamic theory of spatial externalities
Full text linkWe characterize the shape of spatial externalities in a continuous time and space differential game with transboundary pollution. We posit a realistic spatiotemporal law of motion for pollution (diffusion and advection), and tackle spatiotemporal non-cooperative (and cooperative) differential games. Precisely, we consider a circle partitioned into several states where a local authority decides autonomously about its investment, production and depollution strategies over time knowing that investment/production generates pollution, and pollution is transboundary. The time horizon is infinite. We allow for a rich set of geographic heterogeneities across states. We solve analytically the induced non-cooperative differential game and characterize its long-term spatial distributions. In particular, we prove that there exist a Perfect Markov Equilibrium, unique among the class of the affine feedbacks. We further provide with a full exploration of the free riding problem and the associated border effect
Catching-up with the "locomotive"
Full text linkBoucekkine R, Zou B. Catching-up with the "locomotive". Working Papers. Institute of Mathematical Economics. Vol 428. Bielefeld: Universität Bielefeld; 2010.This paper extends the standard neoclassical model by considering a technology sector through which an economy with limited human capital attempts to catch up with a given "locomotive" pushing exogenously technical progress. In periods of technological stagnation, economies close enough to the frontier may find it optimal to not catch up, which reinforces worldwide technological sclerosis. Under sustainable technological growth, all the other economies will sooner or later engage in imitation. Such a phase of technology adoption may be delayed depending on certain deep characteristics of the followers
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
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