Theoretical Economics Letters

Volume 2, Issue 1 (February 2012)

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

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Time Representation in Economics

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DOI: 10.4236/tel.2012.21002    6,130 Downloads   13,917 Views  Citations


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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Bosi, S. and Ragot, L. (2012) Time Representation in Economics. Theoretical Economics Letters, 2, 10-15. doi: 10.4236/tel.2012.21002.

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[1] Tiempo, Población y Modelos de Crecimiento//Time, population and economic growth model
[2] Tiempo, Población y Modelos de Crecimiento
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[5] Tiempo, Población y Modelos de Crecimiento (Time, Population and Economic Growth Model)
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[7] Economic growth and human capital accumulation: a discrete time analysis
[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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