Almost sure convergence to zero in stochastic growth models
نویسندگان
چکیده
منابع مشابه
Almost Sure Convergence to Zero in Stochastic Growth Models
This paper shows that in stochastic one-sector growth models, if the production function does not satisfy the Inada condition at zero, any feasible path converges to zero with probability one provided that the shocks are sufficiently volatile. This result seems significant since, as we argue, the Inada condition at zero is difficult to justify on economic grounds. Our convergence result is exte...
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ژورنال
عنوان ژورنال: Economic Theory
سال: 2005
ISSN: 0938-2259,1432-0479
DOI: 10.1007/s00199-005-0006-1