A stochastic optimal growth model with a depreciation factor (Q974716)
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scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | A stochastic optimal growth model with a depreciation factor |
scientific article |
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A stochastic optimal growth model with a depreciation factor (English)
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7 June 2010
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The paper is devoted to the study of a one-sector stochastic growth model with the depreciation factor of the output and with bounded and unbounded utility, in which the shocks are allowed to be bounded or unbounded. Under certain assumptions, the existence of a unique optimal policy function for the model is shown to be true and the existence of an invariant distribution for the output process is confirmed.
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stochastic growth
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depreciation factor
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Markow processes
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invariant distribution
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policy function
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