Callegaro, Giorgia; Ceci, Claudia; Ferrari, Giorgio: Optimal Reduction of Public Debt under Partial Observation of the Economic Growth. In: . Jg.608. 2019
Inhalt
- 1. Introduction
- 2. Setting and Problem Formulation
- 3. Reduction to an Equivalent Problem under Complete Information
- 3.1. The Filtering Problem
- 3.2. The Separated Problem
- 3.3. A Probabilistic Verification Theorem via Reduction to Optimal Stopping
- 4. The Solution in a Case Study with Q=2 Economic Regimes
- 4.1. The Related Optimal Stopping Problem
- 4.2. The Optimal Control for Problem (P3)
- 4.3. Regularity of the Value Function of Problem (P3) and Related HJB Equation
- Acknowledgments
- Appendix A. Filtering Results
- References