A General Setting and Solution of Bellman Equation in Monetary Theory

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 o...

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Bibliographic Details
Main Authors: Xiaoli Gan, Wanbo Lu
Format: Article
Language:English
Published: Wiley 2014-01-01
Series:Journal of Applied Mathematics
Online Access:http://dx.doi.org/10.1155/2014/495089
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