Stochastic Growth: Asymptotic Distributions
AbstractThis note studies conditions under which sequences of capital per head generated by stochastic optimal accumulation models have law of large numbers and central limit properties. The regularity condition used on the productivity shock is somewhat different to that of previous studies. In particular, no restrictions are placed on its support. Instead, an "average contraction" property is required on the law of motion.
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Bibliographic InfoPaper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 787.
Length: 7 pages
Date of creation: 2001
Date of revision:
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Postal: Department of Economics, The University of Melbourne, 5th Floor, Economics and Commerce Building, Victoria, 3010, Australia
Phone: +61 3 8344 5289
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Web page: http://www.economics.unimelb.edu.au
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CAPITAL ; PRODUCTIVITY ; ECONOMIC MODELS;
Other versions of this item:
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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- Stachurski, John, 2002.
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- repec:rus:cemicf:358 is not listed on IDEAS
- Nishimura, Kazuo & Stachurski, John, 2005. "Stability of stochastic optimal growth models: a new approach," Journal of Economic Theory, Elsevier, vol. 122(1), pages 100-118, May.
- John Stachurski, 2004. "Asymptotic Statistical Properties Of The Neoclassical Optimal Growth Model," Department of Economics - Working Papers Series 898, The University of Melbourne.
- Olson, Lars J. & Roy, Santanu, 2005. "Theory of Stochastic Optimal Economic Growth," Working Papers 28601, University of Maryland, Department of Agricultural and Resource Economics.
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