A ’Jump’ in the Stochasticity of the Solow-Swan Growth Model
Claude Diebolt (),
Tapas Mishra () and
Working Papers of BETA from Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg
We characterize ’Solow-Swan’ economic growth model in a stochastic environment. Our interest basically lies in modelling arrival of uncommon or stochastic shocks in both physical capital and labour, introducing discontinuities in the growth of these variables. These characterizations are completed by employing a Jump process to the Solow-Swan model. Interesting dynamics of capital and labor growth emerge from our investigation.
Keywords: Stochastic Solow-Swan growth; Brownian motion; Jump process. (search for similar items in EconPapers)
JEL-codes: E13 C60 O41 L1 C1 D2 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-fdg, nep-gro, nep-mac and nep-ore
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Journal Article: A "Jump" in the Stochasticity of the Solow-Swan Growth Model (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:ulp:sbbeta:2015-18
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