Stochastic optimal growth with unbounded shock (Q1851228)
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| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Stochastic optimal growth with unbounded shock |
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Stochastic optimal growth with unbounded shock (English)
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16 December 2002
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This paper considers a neoclassical optimal growth problem where the shock that perturbs the economy in each time period is potentially unbounded on the state space. Sufficient conditions for existence, uniqueness, and stability of equilibria are derived in terms of the primitives of the model using recent techniques from the field of perturbed dynamical systems.
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stochastic growth
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Markov operators
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Lagrange stability
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strong contractiveness
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