Recursive Contracts

Marcet, A; Marimon, R

Marcet, A (reprint author), UCL, Dept Econ, Barcelona GSE, London, England.; Marcet, A (reprint author), CEPR, Barcelona, Spain.

ECONOMETRICA, 2019; 87 (5): 1589

Abstract

We obtain a recursive formulation for a general class of optimization problems with forward-looking constraints which often arise in economic dynamic ......

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