Random Dynamical Systems in Economics

Klaus Reiner Schenk-Hoppé ()

No iewwp067, IEW - Working Papers from Institute for Empirical Research in Economics - IEW

Abstract: This paper surveys recent advances in the application of random dy- namical systems theory in economics. It illustrates the usefulness of this framework for modeling and analysis of economic phenomena with stochastic components, mainly focusing on stochastic dynamic models in economic growth. The paper also highlights some directions for further applications and interdisciplinary research on random dynamical systems.

Keywords: random dynamical systems; dynamic models; economic growth (search for similar items in EconPapers)
JEL-codes: C00 O41 E32 (search for similar items in EconPapers)
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Persistent link: http://EconPapers.repec.org/RePEc:zur:iewwpx:067

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