Welfare Analysis of HIV/AIDS: Formulating and Computing a Continuous Time Overlapping Generations Policy Model

Shorish, Jamsheed (May 2007) Welfare Analysis of HIV/AIDS: Formulating and Computing a Continuous Time Overlapping Generations Policy Model. IHS Economics Series 211

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Abstract or Table of Contents

Abstract: We introduce a continuous time overlapping generations demographic model, in which a social planner seeks to generate an optimal policy for influencing the demographic change of the underlying population in a neoclassical growth model. Themodel has the notable feature that the underlying state space is a continuum, leading to a Hamilton-Jacobi-Bellman PDE system which is defined over a Hilbert space generated by the ages of the population cohorts. In this technical report the dynamicprogramming problem is presented and the numerical approximation using a finite difference approximation is derived. This analysis is part of a larger research program on welfare analysis and policy development for the HIV/AIDS global pandemic.;

Item Type: IHS Series
Keywords: 'Optimal control' 'Continuous time overlapping generations' 'Hamilton-Jacobi-Bellman PDE' 'Finite difference approximation' 'HIV/AIDS' 'Demographic modeling'
Classification Codes (e.g. JEL): C61, C63, D61
Status: Published
Date Deposited: 26 Sep 2014 10:38
Last Modified: 23 Jul 2017 05:07
URI: http://irihs.ihs.ac.at/id/eprint/1772

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