## Search Constraints

Filtering by:
Number of results to display per page
View results as:

## Search Results

• #### Law of large numbers for large economies, a

Creator: Uhlig, Harald, 1961- Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) 342 [Please note that the following Greek lettering is improperly transcribed.] If [0,1] is a measure space of agents and X---- a collection of pairwise uncorrelated random variables with common finite mean U and variance a , one would like to establish a law of large numbers () Xdl = U. In this paper we propose to interpret () as a Pettis integral. Using the corresponding Riemann-type version of this integral, we establish (*) and interpret it as an L2-law of large numbers. Intuitively, the main idea is to integrate before drawing an W, thus avoiding well-know measurability problems. We discuss distributional properties of i.i.d. random shocks across the population. We given examples for the economic interpretability of our definition. Finally, we establish a vector-valued version of the law of large numbers for economies. Random variable, Khinchines law of large numbers, L2 law of large numbers, Riemann integral, Pettis integral, and Large numbers C10 - Econometric and statistical methods : General - General
• #### Law of large numbers for large economies, a

Creator: Uhlig, Harald, 1961- Working paper (Federal Reserve Bank of Minneapolis. Research Dept.) 342 [Please note that the following Greek lettering is improperly transcribed.] If [0,1] is a measure space of agents and X---- a collection of pairwise uncorrelated random variables with common finite mean U and variance a , one would like to establish a law of large numbers () Xdl = U. In this paper we propose to interpret () as a Pettis integral. Using the corresponding Riemann-type version of this integral, we establish (*) and interpret it as an L2-law of large numbers. Intuitively, the main idea is to integrate before drawing an W, thus avoiding well-know measurability problems. We discuss distributional properties of i.i.d. random shocks across the population. We given examples for the economic interpretability of our definition. Finally, we establish a vector-valued version of the law of large numbers for economies. Random variable, Khinchines law of large numbers, L2 law of large numbers, Riemann integral, Pettis integral, and Large numbers C10 - Econometric and statistical methods : General - General