Gross domestic product evolution under COVID-19 persistence
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2021-07-19 13:27
SM ISO690:2012
NAVAL, Elvira. Gross domestic product evolution under COVID-19 persistence. In: Mathematics and Information Technologies: Research and Education, Ed. 2021, 1-3 iulie 2021, Chişinău. Chișinău, Republica Moldova: 2021, pp. 61-62.
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Mathematics and Information Technologies: Research and Education 2021
Conferința "Mathematics and Information Technologies: Research and Education"
2021, Chişinău, Moldova, 1-3 iulie 2021

Gross domestic product evolution under COVID-19 persistence


Pag. 61-62

Naval Elvira
 
Vladimir Andrunachievici Institute of Mathematics and Computer Science
 
 
Disponibil în IBN: 30 iunie 2021


Rezumat

This note concerns optimal control problem formulation in a stochastic form. Equilibrium growth rate for the Republic of Moldova Gross Domestic Product evolution under COVID-19 was obtained. Basing on the stochastic maximum principle following approach [1], in which the stochastic dynamic programming formulation is transformed into formulation of the maximum principle. Let‘s consider optimal control problem in stochastic formulationformulahere E is an expectation operator, x = (K;LR) and formula, utility function with constant elasticity of substitution #, ½ is subjective rate of discount, ¯k is subsidy for capital accumulation stimulation. K is the capital stock attested in economic activity, LY is the labor force enrolled in the final goods production sector, LR is the number of employers out of production activity as a result of pandemic evolution, C is the final consumption. dz is a stochastic Wiener process, formula is media of the unfit employers as COVID-19 consequence, formula is a constant, while gdz is distributed normally with mean zero - formula