Can Stabilization Policies Be Efficient?

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dc.contributor.author SAIDI, Aurélien
dc.date.accessioned 2009-01-14T08:42:45Z
dc.date.available 2009-01-14T08:42:45Z
dc.date.issued 2009
dc.identifier.issn 1725-6704
dc.identifier.uri http://hdl.handle.net/1814/10168
dc.description.abstract This paper makes use of optimal control relaxed problems to prove the absence of optimal trajectory in continuous time models with social increasing returns to scale where indeterminacy occurs. Although an efficient optimal policy does not exist, some chattering stabilization policies can mimic trajectories whose criterion functional approximates the supremum of the relaxed problem. This configuration is closely related to indeterminacy: by contrast, when the steady state is determined, an optimal policy is likely to exist. en
dc.language.iso en en
dc.publisher European University Institute
dc.relation.ispartofseries EUI ECO en
dc.relation.ispartofseries 2009/01 en
dc.subject Increasing returns en
dc.subject Indeterminacy en
dc.subject Stabilization policy en
dc.subject Relaxed problems en
dc.subject C61 en
dc.subject C62 en
dc.subject E32 en
dc.subject E6 en
dc.subject H61 en
dc.subject O4 en
dc.title Can Stabilization Policies Be Efficient? en
dc.type Working Paper en
dc.neeo.contributor SAIDI|Aurélien|aut|
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