Stochastic optimal growth with unbounded shock (Q1851228)
From MaRDI portal
scientific article
Language | Label | Description | Also known as |
---|---|---|---|
English | Stochastic optimal growth with unbounded shock |
scientific article |
Statements
Stochastic optimal growth with unbounded shock (English)
0 references
16 December 2002
0 references
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.
0 references
stochastic growth
0 references
Markov operators
0 references
Lagrange stability
0 references
strong contractiveness
0 references