Asymptotic Stability of a Brock-Mirman Economy with Unbounded Shock.

New results in the asymptotic theory of Markov processes are applied to analysis of the long-run behaviour exhibited by optimal growth models with unbounded productivity shock. The techniques developed here are geometrically intuitive, and are shown to imply global stability for a popular model specification. In the process, we present a simple new proof of a recent result pertaining to the stability of discrete dynamical systems on metric space.

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Year of publication:	2000
Authors:	Stachurski, J.
Institutions:	Department of Economics, Faculty of Business and Economics
Subject:	STOCHASTIC PROCESS \| MATHEMATICAL ANALYSIS \| ECONOMETRICS

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Series:	Department of Economics - Working Papers Series.
Type of publication:	Book / Working Paper
Notes:	Number 746 17 pages
Classification:	C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; C60 - Mathematical Methods and Programming. General ; C00 - Mathematical and Quantitative Methods. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005587609