Abstract
An optimal control model is developed to model the choice between short-term safety nets (shelter beds) and longer term investments (low income housing) for the alleviation of literal homelessness (people sleeping on the street). Society's objective function depends negatively on literal homelessness and the budget expenditure to fight it. A steady-state saddle point solution is found. The model is extended to take into account incentive effects in the provision of shelters and leakage effects in the provision of low income housing.Journal of Economic Literature ClassificationNumbers: H53, R21, C61.
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