- ECONOMICS LETTERS Journal
- February 2018
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- This paper investigates the first-order differentiability properties of the value function in dynamic economic models with recursive preferences where the optimal policy may lie at the boundary of the feasible set under several regular assumptions originating from the static optimization theory plus, an additional asymptotic condition. (C) 2017 Elsevier B.V. All rights reserved.
- first-order differentiability; dynamic economic models; recursive utility