Welfare effects of controlling labor supply: An application of the stochastic Ramsey model

DOI10.1016/S0165-1889(02)00167-7zbMath1179.91166OpenAlexW3125992216MaRDI QIDQ951466

Hans-Peter Bermin, Henrik Amilon

Publication date: 24 October 2008

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/s0165-1889(02)00167-7

zbMATH Keywords

stochastic controlMalliavin calculusutility maximizationinterest rate dynamicsRamsey model

Mathematics Subject Classification ID

Stochastic models in economics (91B70) Macroeconomic theory (monetary models, models of taxation) (91B64) Stochastic calculus of variations and the Malliavin calculus (60H07) Welfare economics (91B15)

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Optimal consumption in a stochastic Ramsey model with Cobb-Douglas production function

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