Some Stability Results for Markovian Economic Semigroups
AbstractThe paper studies existence, uniqueness and stability of stationary equilibrium distributions in a class of stochastic dynamic models common to economic analysis. The stability conditions provided are suitable for treating multi-sector models and nonlinear time series models with unbounded state.
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Bibliographic InfoPaper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 902.
Length: 21 pages
Date of creation: 2004
Date of revision:
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Postal: Department of Economics, The University of Melbourne, 5th Floor, Economics and Commerce Building, Victoria, 3010, Australia
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Web page: http://www.economics.unimelb.edu.au
More information through EDIRC
Markov processes; asymptotic stability; semigroups;
Other versions of this item:
- Leonard J. Mirman & Kevin Reffett & John Stachurski, 2005. "Some stability results for Markovian economic semigroups," International Journal of Economic Theory, The International Society for Economic Theory, vol. 1(1), pages 57-72.
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