Stochastic optimal growth with unbounded shock

John Stachurski

doi:10.1006/jeth.2001.2842

Stochastic optimal growth with unbounded shock

John Stachurski^*

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

28 Citations (Scopus)

Abstract

This paper considers a neoclassical optimal growth problem where the shock that perturbs the economy in each time period is potentially unbounded on the state space. Sufficient conditions for existence, uniqueness, and stability of equilibria are derived in terms of the primitives of the model using recent techniques from the field of perturbed dynamical systems. Journal of Economic Literature Classification Numbers: C61, C62, O41.

Original language	English
Pages (from-to)	40-65
Number of pages	26
Journal	Journal of Economic Theory
Volume	106
Issue number	1
DOIs	https://doi.org/10.1006/jeth.2001.2842
Publication status	Published - 1 Sept 2002
Externally published	Yes

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10.1006/jeth.2001.2842

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Stochastic optimal growth with unbounded shock

Abstract

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