Economic dynamical systems with multiplicative noise

John Stachurski*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

8 Citations (Scopus)


The paper considers random economic systems generating nonlinear time series on the positive half-ray ℝ+. Using Lyapunov techniques, new conditions for existence, uniqueness and stability of stationary equilibria are obtained. The conditions generalize earlier results from the mathematical literature, and extend to models outside the scope of existing economic methodology. Applications to growth models with productive capital are given.

Original languageEnglish
Pages (from-to)135-152
Number of pages18
JournalJournal of Mathematical Economics
Issue number1-2
Publication statusPublished - Feb 2003
Externally publishedYes


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