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A ’Jump’ in the Stochasticity of the Solow-Swan Growth Model

Claude Diebolt, Tapas Mishra and Mamata Parhi

Working Papers of BETA from Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg

Abstract: 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: C1 C60 D2 E13 L1 O41 (search for similar items in EconPapers)
Date: 2015
New Economics Papers: this item is included in nep-fdg, nep-gro, nep-mac and nep-ore
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Persistent link: https://EconPapers.repec.org/RePEc:ulp:sbbeta:2015-18

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