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Nikolay Pilnik1, Igor Pospelov1
  • 1 National Research University Higher School of Economics, 20 Myasnitskaya Str., Moscow, 101000, Russian Federation

Natural Terminal Conditions in Models of Intertemporal Equilibrium

2007. Vol. 11. No. 1. P. 3–34 [issue contents]
In this article models of intertemporal equilibrium is presented. Two intertemporal equilibrium models with two agents: a firm-producer and a proprietor-consumer is analysed where the agents are aggregate proxies for production and non-production spheres of an economy. The primary difference between models is description of way, which firm uses to attract proprietor’s funds. The primary goal of the study is to find out whether intertemporal equilibrium with condition of capital growth for each agent is effective. A full solution of both models for any initial conditions is obtained. Possibility of simulation of optimal solution in model with infinite planning horizon in the sum with terminal planning horizon is studied.
Citation: Pilnik N., Pospelov I. (2007) O estestvennykh terminal'nykh usloviyakh v modelyakh mezhvremennogo ravnovesiya [Natural Terminal Conditions in Models of Intertemporal Equilibrium]. Ekonomicheskiy zhurnal VShE, vol. 11, no 1, pp. 3-34 (in Russian)
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