Santos Santos, Manuel (contributor); … - 2003
Dynamics
Computable dynamic models are often characterized by equilibrium solutions that take
the form of a Markov stochastic …, and hence the
model is often simulated by numerical methods. Of course, the problem is that the
stochastic dynamics may be … function P is de�ned
as
P(s;A) = Q(f"j'(s;") 2 Ag) (2.3)
for every s 2 S and A 2 S. Function P characterizes the dynamics in …