ASYMPTOTICS OF STOCHASTIC RECURSIVE ECONOMIES UNDER MONOTONICITY

Takashi Kamihigashi and John Stachurski ()

No 666, KIER Working Papers from Kyoto University, Institute of Economic Research

Abstract: This paper presents a new mixing condition for dynamic economies with a Markov structure. The mixing condition is stated in terms of order, and generalizes a number of wellknown conditions used to establish stability of monotone dynamic models. By generalizing the key insights of the original conditions, we derive a set of results with applications to many theoretical and time series models.

Date: 2009-01
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