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MPIDR Working Paper

Age-structured optimal control in population economics

Feichtinger, G., Prskawetz, A., Veliov, V. M.

MPIDR Working Paper WP-2002-045, 31 Seiten (September 2002).
Rostock, Max-Planck-Institut für demografische Forschung

Abstract

This paper brings both intertemporal and age-dependent features to a theory of population policy at the macro-level. A Lotkatype renewal model of population dynamics is combined with a Solow/Ramsey economy. By using a new maximum principle for distributed parameter control we derive meaningful qualitative results for the optimal migration path and the optimal saving rate.

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