Solving a Simple Finite Horizon Dynamic Programming Problem

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This video goes through solving a simple finite horizon dynamic programming problem

Created by Justin S. Eloriaga

Justin Eloriaga
Economics
Finance

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Great video! It is helping a lot. I have one question, Is the equation in the end the Euler Equation?

schewiloffel

I would highly highly appreciated if you complete it by guessing the value function which has the form 𝑉(𝑘, 𝑧) = 𝐴 + 𝐵ln 𝑘 +
𝐷ln 𝑧 and use the method of undetermined coefficients to solve for the optimal
decision rule, 𝑘𝑡+1 = 𝑔(𝑘𝑡, 𝑧𝑡 ) and Rewrite this solution in terms of 𝑦𝑡 and derive the
solution for 𝑐𝑡 as well using the aggregate resource constraint. Also, can you Explain the economic
intuition of how output is allocated between capital and consumption?

almontheralmonther

Solving a Simple Finite Horizon Dynamic Programming Problem

Solving a Simple Finite Horizon Dynamic Programming Problem

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