Some stability results for Markovian economic semigroups
The 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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Volume (Year): 1 (2005)
Issue (Month): 1 ()
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References listed on IDEAS
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- Leonard J Mirman & Olivier F. Morand & Kevin L. Reffett, 2004.
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Elsevier, vol. 106(1), pages 40-65, September.
- repec:cup:macdyn:v:1:y:1997:i:4:p:740-69 is not listed on IDEAS
- Bray, Margaret, 1982. "Learning, estimation, and the stability of rational expectations," Journal of Economic Theory, Elsevier, vol. 26(2), pages 318-339, April.
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- Long, John B, Jr & Plosser, Charles I, 1983. "Real Business Cycles," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 39-69, February.
- Stachurski, John, 2003. "Economic dynamical systems with multiplicative noise," Journal of Mathematical Economics, Elsevier, vol. 39(1-2), pages 135-152, February.
- Futia, Carl A, 1982. "Invariant Distributions and the Limiting Behavior of Markovian Economic Models," Econometrica, Econometric Society, vol. 50(2), pages 377-408, March.
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