Harvest plays an important role in management decisions, from fisheries to pest control. Discrete-time models enable us explore the importance of timing including order events particular actions. We derive novel mechanistic featuring explicit within-season harvest and level. optimization level through optimal control these population models. With a fixed level, is taken as Then both are used co...

We derive the optimal unilateral policy in a general equilibrium model of trade and climate change where one region world imposes rest does not. A shifts activities—extraction, production, consumption—in other region. The trades oi¬€ costs these distortions. can be implemented through: (i) nominal tax on extraction at rate equal to global marginal harm from emissions, (ii) imports energy go...

The purpose of this paper is to examine within the context of a patieular U.S. exammetric model the sensitivity of fiscal policy effects to alternative assumptions about the behavior of the Federal Reserve. Five cases are considered, four in which Fed behavior is exogenous and one in which Fed behavior is endogenous. In each of the four exogenous cases the Fed is assumed to control a particular...

Optimal control theory is finding increased application in both theoretical and applied ecology, and it is a central element of adaptive resource management. One of the steps in an adaptive management process is to develop alternative models of system dynamics, models that are all reasonable in light of available data, but that differ substantially in their implications for optimal control of t...