Stochastic Growth: Asymptotic Distributions

John Stachurski ()

No 787, Department of Economics - Working Papers Series from The University of Melbourne

Abstract: This note studies conditions under which sequences of capital per head generated by stochastic optimal accumulation models have law of large numbers and central limit properties. The regularity condition used on the productivity shock is somewhat different to that of previous studies. In particular, no restrictions are placed on its support. Instead, an "average contraction" property is required on the law of motion.

Keywords: CAPITAL; PRODUCTIVITY; ECONOMIC MODELS (search for similar items in EconPapers)
JEL-codes: C51 C62 O41 (search for similar items in EconPapers)
Pages: 7 pages
Date: 2001
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Related works:
Journal Article: Stochastic growth: asymptotic distributions (2003)
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