An optimal control solution to the liquidity constraint problem

Economics Letters

Volumn 54, Issue 2, 1997, Pages 127-134

  Seater, John J ^a  

^a NORTH CAROLINA STATE UNIVERSITY   (United States)

Author keywords

Liquidity constraints; Optimal control

Indexed keywords

EID: 0031286408     PISSN: 01651765     EISSN: None     Source Type: Journal    
DOI: 10.1016/s0165-1765(97)00002-5     Document Type: Article

References (5)

1. Deaton, A., 1991, Saving and liquidity constraints, Econometrica 59, 1221-1248.
2. Heller, W.P. and R.M. Starr, 1979, Capital market imperfection, the consumption function, and the effectiveness of fiscal policy, Quarterly Journal of Economics 94, 455-463.
3. Kamien, M.I. and N.L. Schwartz, 1981, Dynamic optimization: The calculus of variations and optimal control in economics and management, North-Holland, New York.
4. Mariger, R.P., 1987, A life-cycle consumption model with liquidity constraints: Theory and empirical results, Econometrica 55, 533-557.
5. Zeldes, S.P., 1989, Consumption and liquidity constraints: An empirical investigation, Journal of Political Economy 97, 305-346.