Random Fixed Points in a Stochastic Solow Growth Model
نویسندگان
چکیده
This paper presents a complete analysis of a stochastic version of the Solow growth model in which all parameters are ergodic random variables. Applying random dynamical systems theory, we prove that the dynamics and, in particular, the long-run behavior is uniquely determined by a globally attracting stable random xed point. We also discuss the relation of our approach to that of ergodic Markov equilibria.
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