Non-stationary, stable Markov processes on a continuous state space (Q2391053)
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scientific article; zbMATH DE number 5586419
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| English | Non-stationary, stable Markov processes on a continuous state space |
scientific article; zbMATH DE number 5586419 |
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Non-stationary, stable Markov processes on a continuous state space (English)
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24 July 2009
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There is defined a class of discrete time Markov processes on a continuous state space which are stable but not stationary. Defined class is non-empty. Associated empirical distributions are characterized for such processes. Defined processes are applied for general equilibrium of the Muth model. All proofs are given.
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rational belief
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stable Markov processes
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continuous state space
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Muth model
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0.7720600962638855
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0.7573590874671936
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0.7523682117462158
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0.7443362474441528
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0.7350733876228333
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