Summary.
Some economic models like those of endogenous growth motivate the analysis of a class of recursive models sharing the property that the return function is not bounded along feasible paths. We consider a strategy of proof which allows to deal with many unbounded recursive models exploiting bounds to the rates of growth rather than to the levels.
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Received: December 15, 1997; revised version: April 23, 1999
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Durán, J. On dynamic programming with unbounded returns. Econ Theory 15, 339–352 (2000). https://doi.org/10.1007/s001990050016
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DOI: https://doi.org/10.1007/s001990050016