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Two additions to Lucas's 'inflation and welfare'
(Escola de Pós-Graduação em Economia da FGV, 2004-04-01)
This work adds to Lucas (2000) by providing analytical solutions to two problems that are solved only numerically by the author. The first part uses a theorem in control theory (Arrow' s sufficiency theorem) to provide ...
A note on an application of Arrow's theorem: sufficient conditions for Lucas' inflation and welfare
(Escola de Pós-Graduação em Economia da FGV, 2000-08)
Bellman's methods for dynamic optimization constitute the present mainstream in economics. However, some results associated with optimal controI can be particularly usefuI in certain problems. The purpose of this note is ...