Open AccessVariational problem of economic dynamics model of Harrod-Domar with variable capital-output ratio of income gain consumption optimization
Author(s) -
A.Yu. Meerson,
A. P. Chernyaev
Publication year - 2014
Publication title -
izvestiâ mgtu "mami"
Language(s) - English
Resource type - Journals
eISSN - 2949-1428
pISSN - 2074-0530
DOI - 10.17816/2074-0530-67354
Subject(s) - economics , constant (computer programming) , consumption (sociology) , capital (architecture) , variable (mathematics) , function (biology) , consumption function , mathematical economics , econometrics , microeconomics , keynesian economics , mathematics , production (economics) , computer science , mathematical analysis , evolutionary biology , sociology , biology , history , social science , archaeology , programming language
The paper studies variational formulation of the optimal control problem of consumption by classical macroeconomic Harrod-Domar model capital-output ratio of income gain is not constant and depends on time as a function of arbitrary nature.