Stochastic optimal growth with unbounded shock

• 成果类型: Article
• 署名作者: Stachurski, J
• 署名单位: University of Melbourne
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1006/jeth.2001.2842
• 发表日期: 2002
• 页码: 40-65
• 关键词: Stochastic growth; Markov operators; Lagrange stability; strong contractiveness

摘要

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. (C) 2001 Elsevier Science (USA).