A General Setting and Solution of Bellman Equation in Monetary Theory
Joint Authors
Source
Journal of Applied Mathematics
Issue
Vol. 2014, Issue 2014 (31 Dec. 2014), pp.1-9, 9 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2014-12-21
Country of Publication
Egypt
No. of Pages
9
Main Subjects
Abstract EN
As an important tool in theoretical economics, Bellman equation is very powerful in solving optimization problems of discrete time and is frequently used in monetary theory.
Because there is not a general method to solve this problem in monetary theory, it is hard to grasp the setting and solution of Bellman equation and easy to reach wrong conclusions.
In this paper, we discuss the rules and problems that should be paid attention to when incorporating money into general equilibrium models.
A general setting and solution of Bellman equation in monetary theory are provided.
The proposed method is clear, is easy to grasp, is generalized, and always leads to the correct results.
American Psychological Association (APA)
Gan, Xiaoli& Lu, Wanbo. 2014. A General Setting and Solution of Bellman Equation in Monetary Theory. Journal of Applied Mathematics،Vol. 2014, no. 2014, pp.1-9.
https://search.emarefa.net/detail/BIM-1039678
Modern Language Association (MLA)
Gan, Xiaoli& Lu, Wanbo. A General Setting and Solution of Bellman Equation in Monetary Theory. Journal of Applied Mathematics No. 2014 (2014), pp.1-9.
https://search.emarefa.net/detail/BIM-1039678
American Medical Association (AMA)
Gan, Xiaoli& Lu, Wanbo. A General Setting and Solution of Bellman Equation in Monetary Theory. Journal of Applied Mathematics. 2014. Vol. 2014, no. 2014, pp.1-9.
https://search.emarefa.net/detail/BIM-1039678
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1039678
