Gong, Liutang; Zhao, Xiaojun; Yang, Yunhong; Hengfu, Zou - In: Journal of Mathematical Economics 46 (2010) 4, pp. 505-518
This paper extends Kurz's (1968) growth model to a stochastic growth framework with social-status concern and unbounded production shocks. Using the stochastic monotonicity of a stochastic dynamic system and the methods adopted in Zhang (2007), the existence, uniqueness, and stability of...
