Article ID Journal Published Year Pages File Type
7359328 Journal of Economic Theory 2018 27 Pages PDF
Abstract
We introduce and analyze a new class of monotone stochastic recursions in a regenerative environment which is essentially broader than that of Markov chains. We prove stability theorems and apply our results to three canonical models in recursive economics, generalizing some known stability results to the cases when driving sequences are not independent and identically distributed.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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