Dynamic economics
Subtitle: optimization by the Lagrange method
By: by Gregory C. Chow.
Publisher: Oxford University Press
Published: 1997
Place of publication: New York
Language: eng
Number of pages: 234
Subjects: Mathematical optimization; Multipliers (Mathematical analysis); Equilibrium (Economics); Statics and dynamics (Social sciences); Economic development
Description: Dynamic Economics presents the optimization framework for dynamic economics so that readers can understand and use it for applied and theoretical research. Chow shows how the method of Lagrange multipliers is easier and more efficient for solving dynamic optimization problems than dynamic programming, and allows readers to understand the substance of dynamic economics more fully.

He applies the Lagrange method to study and solve problems in a variety of areas including economic growth, general equilibrium theory, business cycles, dynamic games, finance, and investment, while also discussing numerical methods and analytical solutions.
Notes: Includes bibliographical references (p. 208-213) and index.