Theoretical Economics Letters

Volume 2, Issue 1 (February 2012)

ISSN Print: 2162-2078   ISSN Online: 2162-2086

Google-based Impact Factor: 0.60  Citations  

Time Representation in Economics

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DOI: 10.4236/tel.2012.21002    5,612 Downloads   12,943 Views   Citations

ABSTRACT

In this paper, we study general polynomial discretizations in backward and forward looking, and the preservation of stability properties. We apply these results to the Ramsey model [4]. Its discrete-time version is a hybrid discretizations of a backward-looking budget constraint and a forward-looking Euler equation. Saddle-path stability is a robust property under discretization.

Cite this paper

S. Bosi and L. Ragot, "Time Representation in Economics," Theoretical Economics Letters, Vol. 2 No. 1, 2012, pp. 10-15. doi: 10.4236/tel.2012.21002.

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