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Recurrence of a modified random walk and its application to an economic model

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Author Info
Salant, Stephen W.
Wenocur, Roberta S.

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Abstract

A modification of Chung and Fuchs’ (Mem. Amer. Math. Soc., 6 (1951), pp. 1-12) recurrence theorem for random walks leads to an analogous result for a different discrete parameter Markov process. This latter process is applicable to an analysis of price stabilization programs involving purchases and sales from a buffer stock.

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File URL: http://mpra.ub.uni-muenchen.de/11171/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 11171.

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Date of creation: Feb 1981
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Handle: RePEc:pra:mprapa:11171

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Related research
Keywords: speculative attack;

Find related papers by JEL classification:
Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
N5 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries

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  1. Salant, Stephen W, 1983. "The Vulnerability of Price Stabilization Schemes to Speculative Attack," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 1-38, February. [Downloadable!] (restricted)
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This page was last updated on 2010-1-7.

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