AN OPTIMAL-CONTROL SOLUTION TO THE LIQUIDITY CONSTRAINT PROBLEM

Authors
SEATER JJ
Citation
Jj. Seater, AN OPTIMAL-CONTROL SOLUTION TO THE LIQUIDITY CONSTRAINT PROBLEM, Economics letters, 54(2), 1997, pp. 127-134
Citations number
5
Categorie Soggetti
Economics
Journal title
Economics letters → ACNP
ISSN journal
01651765
Volume
54
Issue
2
Year of publication
1997
Pages
127 - 134
Database
ISI
SICI code
0165-1765(1997)54:2<127:AOSTTL>2.0.ZU;2-X
Abstract
An analytical solution to the liquidity constraint problem is derived in an optimal control framework. Some properties of the solution are e xamined. Results in the existing literature derived there by disparate methods are obtained by a single approach, thus providing a unified t heory of consumption under liquidity constraint. (C) 1997 Elsevier Sci ence S.A.