Abstract
Due to a low birth rate many countries need immigration to sustain a given population size. The resulting model consists of specific non-standard age-structured control systems on an infinite horizon. This paper investigates the question of optimal choice of the immigration age-profile within certain bounds. The main qualitative result is that under certain conditions the optimal control (the immigration age-profile) is time-invariant, although a dynamic framework is used. This makes it possible to give a detailed description of the optimal immigration policy and to obtain numerical solutions for the Austrian case. The analysis requires a number of new results obtained in the paper: a new type of transversality condition for the adjoint equation involved in the optimality conditions, generic conditions for well-posedness of the problem and appropriate stability conditions.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.