Coalescence time and second largest eigenvalue modulus in the monotone reversible case
If T is the coalescence time of the Propp and Wilson, perfect simulation algorithm, the aim of this paper is to show that T depends on the second largest eigenvalue modulus of the transition matrix of the underlying Markov chain. This gives a relationship between the ordering based on the speed of convergence to stationarity in total variation distance and the ordering defined in terms of speed of coalescence in perfect simulation. Key words and phrases: Peskun ordering, Covariance ordering, Effciency ordering, MCMC, time-invariance estimating equations, asymptotic variance, continuous time Markov chains.
|Date of creation:||Jul 2006|
|Contact details of provider:|| Postal: Via Ravasi 2-21100 Varese|
Web page: http://www.uninsubria.it/uninsubria/facolta/econo.html
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Stiglitz, Joseph E., 2001.
"Information and the Change in the Paradigm in Economics,"
Nobel Prize in Economics documents
2001-8, Nobel Prize Committee.
- Joseph E. Stiglitz, 2002. "Information and the Change in the Paradigm in Economics," American Economic Review, American Economic Association, vol. 92(3), pages 460-501, June.
- Ross Levine, 1997.
"Financial Development and Economic Growth: Views and Agenda,"
Journal of Economic Literature,
American Economic Association, vol. 35(2), pages 688-726, June.
- Levine, Ross, 1996. "Financial development and economic growth : views and agenda," Policy Research Working Paper Series 1678, The World Bank.
- Gary Gorton & Andrew Winton, 2002.
NBER Working Papers
8928, National Bureau of Economic Research, Inc.
- Jaffee, Dwight & Stiglitz, Joseph, 1990. "Credit rationing," Handbook of Monetary Economics, in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 2, chapter 16, pages 837-888 Elsevier.
- Raghuram G. Rajan & Luigi Zingales, "undated".
"Financial Dependence and Growth,"
CRSP working papers
344, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
- King, Robert G. & Levine, Ross, 1993.
"Finance and growth : Schumpeter might be right,"
Policy Research Working Paper Series
1083, The World Bank.
- Jeffrey Wurgler, 1999.
"Financial Markets And The Allocation Of Capital,"
Yale School of Management Working Papers
ysm123, Yale School of Management, revised 01 Mar 2001.
- Morishima,Michio, 1992. "Capital and Credit," Cambridge Books, Cambridge University Press, number 9780521418409, December.
- Robert E. Carpenter & Bruce C. Petersen, 2002. "Capital Market Imperfections, High-Tech Investment, and New Equity Financing," Economic Journal, Royal Economic Society, vol. 112(477), pages 54-72, February.
- North, D-C, 1997. "The Process of Economic Change," Research Paper 128, World Institute for Development Economics Research.
- Rajan, Raghuram G & Zingales, Luigi, 2003.
"Banks and Markets: the Changing Character of European Finance,"
CEPR Discussion Papers
3865, C.E.P.R. Discussion Papers.
- Luigi Zingales & Raghuram G. Rajan, 2003. "Banks and Markets: The Changing Character of European Finance," NBER Working Papers 9595, National Bureau of Economic Research, Inc.
- Rajan, Raghuram G. & Zingales, Luigi, 2003. "The great reversals: the politics of financial development in the twentieth century," Journal of Financial Economics, Elsevier, vol. 69(1), pages 5-50, July.
- Levine, Ross, 2005.
"Finance and Growth: Theory and Evidence,"
Handbook of Economic Growth,
in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 12, pages 865-934
- Goodhart, C A E, 1987. "Why Do Banks Need a Central Bank?," Oxford Economic Papers, Oxford University Press, vol. 39(1), pages 75-89, March.
- Gompers, Paul A, 1995. " Optimal Investment, Monitoring, and the Staging of Venture Capital," Journal of Finance, American Finance Association, vol. 50(5), pages 1461-1489, December.
- Ross Levine, 2002.
"Bank-Based or Market-Based Financial Systems: Which is Better?,"
NBER Working Papers
9138, National Bureau of Economic Research, Inc.
- Levine, Ross, 2002. "Bank-Based or Market-Based Financial Systems: Which Is Better?," Journal of Financial Intermediation, Elsevier, vol. 11(4), pages 398-428, October.
- Ross Levine, 2002. "Bank-Based or Market-Based Financial Systems: Which is Better?," William Davidson Institute Working Papers Series 442, William Davidson Institute at the University of Michigan.
- Paul A. David, "undated".
"Path Dependence, its critics, and the quest for 'historical economics',"
00011, Stanford University, Department of Economics.
- Paul A.David, 2005. "Path dependence, its critics and the quest for ‘historical economics’," Economic History 0502003, EconWPA.
- Salvatore Capasso, 2003.
"Financial Markets Development And Economic Growth: Tales Of Informational Asymmetries,"
2_2003, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy.
- Salvatore Capasso, 2004. "Financial Markets, Development and Economic Growth: Tales of Informational Asymmetries," Journal of Economic Surveys, Wiley Blackwell, vol. 18, pages 267-292, 07.
- Leopoldo Fergusson, 2006. "Institutions for Financial Development: What are they and where do they come from?," Journal of Economic Surveys, Wiley Blackwell, vol. 20(1), pages 27-70, 02.
- Fama, Eugene F., 1985. "What's different about banks?," Journal of Monetary Economics, Elsevier, vol. 15(1), pages 29-39, January.
- Richard Sylla, 2006. "Schumpeter Redux: A Review of Raghuram G. Rajan and Luigi Zingales's Saving Capitalism from the Capitalists," Journal of Economic Literature, American Economic Association, vol. 44(2), pages 391-404, June.
- Paul Wachtel, 2003. "How much do we really know about growth and finance?," Economic Review, Federal Reserve Bank of Atlanta, issue Q1, pages 33-47.
When requesting a correction, please mention this item's handle: RePEc:ins:quaeco:qf06011. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Segreteria Dipartimento)
If references are entirely missing, you can add them using this form.