Dynamic programming with homogenous functions

Article Abstract:

The use of dynamic programming in resolving economic issues may be extended to cover recursive methods, particularly homogenous problems. This may be made possible by defining the basic existence, uniqueness and convergence results generated from dynamic programming methods. The approach provides a concrete evidence for the Principle of Optimality, by showing that the dynamic program, itself, coincide accurately with the solutions of the original problem. The proposed strategy further provides a finite solution to the Bellman equation.

Economics, Research and Development in the Social Sciences and Humanities, Usage, Dynamic programming, Optimization theory, Mathematical programming

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Tax distortions in a neoclassical monetary economy

Article Abstract:

An analysis of the impact on government expenditure finance of tax distortions which affect fiscal and monetary policies is presented. The analysis assumes conditions of a neoclassical economic model and considers US economic features as a sample base for quantitative welfare cost assessment. It is shown that such an application requires different tax combinations involving capital and labor income, consumption and money holdings.

Taxation, Neoclassical economics

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Introduction: symposium on economic growth, theory and computations

Article Abstract:

A study was conducted to examine the impact of several factors on economic development. The symposium study considered 11 papers which developed questions on such growth. Analysis shows that savings and investment decisions, fiscal and monetary policies and human capital accumulation affect the process of long-term development. In addition, methods for analyzing such models of modern growth theory may be applied.

Economic development, Savings, Human capital

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