Dynamic Systems, Economic Growth, and the Environment by Sabine Pickenhain (auth.), Jesús Crespo Cuaresma, Tapio

By Sabine Pickenhain (auth.), Jesús Crespo Cuaresma, Tapio Palokangas, Alexander Tarasyev (eds.)

The booklet makes a speciality of the sustainability of financial progress in a altering atmosphere, lower than the results of worldwide warming, dwindling strength assets, and technological switch. It additionally presents factors for major fluctuations in international locations’ development charges. the implications are derived from ancient proof on fiscal development in terms of environmental coverage, technological swap, improvement of shipping infrastructure, inhabitants matters, and environmental mortality. The rigorous research of theoretical and utilized facets finds vital coverage implications for optimum funding, optimum timing of abatement actions, and for an optimum balancing of financial progress with environmental concerns.

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Extra resources for Dynamic Systems, Economic Growth, and the Environment

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Convex processes and Hamilton dynamical systems. In Convex analysis and mathematical economics. Sethi, S. , & Thompson, G. L. (1985). Optimal control theory. ). Dordrecht: Kluwer. Yosida, K. (1974). Functional analysis. New York: Springer. Sequential Precision of Predictions in Models of Economic Growth Andrey A. Krasovskii and Alexander M. Tarasyev Abstract The research deals with the model of economic growth based on the real time series. The methodology for analysis of a country’s macroeconomic parameters is proposed.

E. on [0, ∞). (99) We show that the control u∗ (t) = t ≤ τ, t >τ 1, α, ˆ (100) is optimal for some switching point τ . The corresponding state trajectory is x ∗ (t) = t ≤ τ, x0 e t , ˆ eαt ˆ , t > τ. x0 e(1−α)τ (101) ˆ , which means that This solution satisfies the state constraint (97) if x0 eτ = Ceατ 1 C τ = 1−αˆ ln( x0 ) ≥ 0. Now we apply the duality theory in Weighted Spaces to prove sufficient optimality conditions for (P2 )L ∞ . First we introduce an adequate state space. An admissible x for (P2 )L satisfies ∞ ˆ x ≤ Ceαt .

Berlin: Springer. Kufner, A. (1985). Weighted Sobolev spaces. New York: Wiley. Leizarowitz, V. , & Mizel, V. J. (1989). One-dimensional infinite-horizon variational problems arising in continuum mechanics. Archive for Rational Mechanics and Analysis, 106, 161– 194. Magill, M. J. P. (1982). Pricing infinite horizon programs. Journal of Mathematical Analysis and Applications, 88, 398–421. Michel, P. (1982). On the transversality condition in infinite horizon optimal problems. Econometrica, 50(4), 975–985.

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