References of "Camacho, Carmen"
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See detailCarbon capture and storage and transboundary pollution: A differential game approach
Bertinelli, Luisito UL; Camacho, Carmen; Zou, Benteng UL

in European Journal of Operational Research (2014)

We study the strategic behavior of two countries facing transboundary CO2 pollution under a differential game setting. In our model, the reduction of CO2 concentration occurs through the carbon capture ... [more ▼]

We study the strategic behavior of two countries facing transboundary CO2 pollution under a differential game setting. In our model, the reduction of CO2 concentration occurs through the carbon capture and storage process, rather than through the adoption of cleaner technologies. Furthermore, we first provide the explicit short-run dynamics for this dynamic game with symmetric open-loop and a special Markovian Nash strategy. Then, we compare these strategies at the games’ steady states and along some balanced growth paths. Our results show that if the initial level of CO2 is relatively high, state dependent emissions reductions can lead to higher overall environmental quality, hence, feedback strategy leads to less social waste. [less ▲]

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See detailBridging the gap between growth theory and the new economic geo-graphy : The spatial Ramsey model
Boucckine, Raouf; Camacho, Carmen; Zou, Benteng UL

in Macroeconomic Dynamics (2009), 13(1), 20-45

We study a Ramsey problem in in¯nite and continuous time and space. The problem is discounted both temporally and spatially. Capital flows to locations with higher marginal return. We show that the ... [more ▼]

We study a Ramsey problem in in¯nite and continuous time and space. The problem is discounted both temporally and spatially. Capital flows to locations with higher marginal return. We show that the problem amounts to optimal control of parabolic partial differential equations (PDEs). We rely on the existing related mathematical literature to derive the Pontryagin conditions. Using explicit representations of the solutions to the PDEs, we first show that the resulting dynamic system gives rise to an ill-posed problem in the sense of Hadamard (1923). We then turn to the spatial Ramsey problem with linear utility. The obtained properties are significantly different from those of the non-spatial linear Ramsey model due to the spatial dynamics induced by capital mobility. [less ▲]

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See detailOn the dynamics of capital accumulation across space
Camacho, Carmen; Zou, Benteng UL; Briani, Maya

in European Journal of Operational Research (2008), 186(2), 451-465

We solve an optimal growth model in continuous space, continuous and bounded time. The optimizer chooses the optimal trajectories of capital and consumption across space and time by maximizing an ... [more ▼]

We solve an optimal growth model in continuous space, continuous and bounded time. The optimizer chooses the optimal trajectories of capital and consumption across space and time by maximizing an objective function with both space and time discounting. We extract the corresponding Pontryagin conditions and prove their sufficiency. We end up with a system of two parabolic differential equations with the corresponding boundary conditions. We propose a simple numerical set-up to simulate PDE systems which we employ to study the roles of initial capital and technology distributions over space in various scenarios. [less ▲]

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