Stochastic Stability in Monotone Economies

Takashi Kamihigashi and John Stachurski
Additional contact information
John Stachurski: Research School of Economics, Australian National University, Australia

No DP2013-02, Discussion Paper Series from Research Institute for Economics & Business Administration, Kobe University

Abstract: This paper extends a family of well-known stability theorems for monotone economies to a significantly larger class of models. We provide a set of general conditions for existence, uniqueness and stability of stationary distributions when monotonicity holds. The conditions in our main result are both necessary and sufficient for global stability of monotone economies that satisfy a weak mixing condition introduced in the paper. Through our analysis we develop new insights into the nature and causes of stability and instability.

Keywords: Stability; Monotonicity; Stationary equilibria (search for similar items in EconPapers)
JEL-codes: C62 C63 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2013-01
New Economics Papers: this item is included in nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://www.rieb.kobe-u.ac.jp/academic/ra/dp/English/DP2013-02.pdf First version, 2013 (application/pdf)

Related works:
Working Paper: Stochastic Stability in Monotone Economies (2010)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kob:dpaper:dp2013-02

Access Statistics for this paper

More papers in Discussion Paper Series from Research Institute for Economics & Business Administration, Kobe University 2-1 Rokkodai, Nada, Kobe 657-8501 JAPAN. Contact information at EDIRC.
Bibliographic data for series maintained by Office of Promoting Research Collaboration, Research Institute for Economics & Business Administration, Kobe University ().