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Some Stability Results for Markovian Economic Semigroups

Leonard Mirman, Kevin Reffett and John Stachurski ()

No 902, Department of Economics - Working Papers Series from The University of Melbourne

Abstract: The paper studies existence, uniqueness and stability of stationary equilibrium distributions in a class of stochastic dynamic models common to economic analysis. The stability conditions provided are suitable for treating multi-sector models and nonlinear time series models with unbounded state.

Keywords: Markov processes; asymptotic stability; semigroups (search for similar items in EconPapers)
Date: 2004
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