Recurrence of a modified random walk and its application to an economic model

A modification of Chung and Fuchs’ (Mem. Amer. Math. Soc., 6 (1951), pp. 1-12) recurrence theorem for random walks leads to an analogous result for a different discrete parameter Markov process. This latter process is applicable to an analysis of price stabilization programs involving purchases and sales from a buffer stock.

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Year of publication:	1981-02
Authors:	Salant, Stephen W. ; Wenocur, Roberta S.
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	speculative attack

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	Q28 - Government Policy ; N5 - Agriculture, Natural Resources, Environment, and Extractive Industries
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005616834