Optimal timing of regime switching in optimal growth models: A Sobolev space approach |
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| Authors: | Erol Dogan Cagri Saglam |
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| Affiliation: | a Department of Economics, Bilkent University, Turkeyb CNRS, Paris School of Economics, Francec Exeter University Business School, United Kingdom |
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| Abstract: | This paper analyses the optimal timing of switching between alternative and consecutive regimes in optimal growth models. We derive the appropriate necessary conditions for such problems by means of standard techniques from the calculus of variations and some basic properties of Sobolev spaces. |
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| Keywords: | C61 O41 |
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