The invariant distribution of wealth and employment status in a small open economy with precautionary savings (Q2283130)
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| English | The invariant distribution of wealth and employment status in a small open economy with precautionary savings |
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The invariant distribution of wealth and employment status in a small open economy with precautionary savings (English)
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30 December 2019
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The authors analyze in the paper the existence of the consumption paths in continuous-time idiosyncratic risk models, and prove the existence and uniqueness of an invariant distribution for wealth and employment status and its ergodicity. Their analysis is based on the notion of T-processes and applies results on the stability of a class of Markovian processes.
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uncertainty in continuous time
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counting process
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existence
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uniqueness
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stability
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