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ASYMPTOTIC STATISTICAL PROPERTIES OF THE NEOCLASSICAL OPTIMAL GROWTH MODEL

The standard one-sector stochastic optimal growth model is shown to be not just ergodic but geometrically ergodic. In addition, it is proved that the time series generated by the optimal path satisfy the Law of Large Numbers and the Central Limit Theorem.
Year of publication:
2004
Authors: Stachurski, John
Institutions: Department of Economics, Faculty of Business and Economics
Extent:
application/pdf
Series:
Type of publication: Book / Working Paper
Notes:
Number 898 15 pages
Source:
Persistent link: https://www.econbiz.de/10005574881
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