Theoretical Economics Letters

Volume 2, Issue 1 (February 2012)

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

Google-based Impact Factor: 1.19  Citations  h5-index & Ranking

Time Representation in Economics

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DOI: 10.4236/tel.2012.21002    6,022 Downloads   13,644 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.

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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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[4] Equivalence of economic models under different time representations
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[5] Tiempo, Población y Modelos de Crecimiento (Time, Population and Economic Growth Model)
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[6] The Uzawa-Lucas Model in Discrete Time with General Population Growth Rate
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[7] Economic growth and human capital accumulation: a discrete time analysis
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[8] The Discrete-Time Ramsey Model with a Decreasing Population Growth Rate: Stability and Speed of Convergence
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[9] Discrete Versus Continuous Time in an Endogenous Growth Model with Durable Consumption
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[10] Demonstrating conceptual dynamics in an evolving text collection
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