ASYMPTOTIC STATISTICAL PROPERTIES OF THE NEOCLASSICAL OPTIMAL GROWTH MODEL

John Stachurski ()

No 898, Department of Economics - Working Papers Series from The University of Melbourne

Abstract: The standard one-sector stochastic optimal growth model is shown to be not just ergodic but geometrically ergodic. In addition, it is proved that the time series generated by the optimal path satisfy the Law of Large Numbers and the Central Limit Theorem.

Pages: 15 pages
Date: 2004
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