; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Stochastic Optimal Growth with a Non-Compact State Space"; ; "batchuser@example.com"; "Zhang, Yuzhe"; "Federal Reserve Bank of Minneapolis"; "Global stability", "Stochastic growth", "Stochastic dominance", "Monotonic operator"; "C62 - Existence and Stability Conditions of Equilibrium", "O41 - One, Two, and Multisector Growth Models", "C61 - Optimization Techniques; Programming Models; Dynamic Analysis"; "This paper studies the stability of a stochastic optimal growth economy introduced by Brock and Mirman [J. Econ. Theory 4 (1972)] by utilizing stochastic monotonicity in a dynamic system. The construction of two boundary distributions leads to a new method of studying systems with non-compact state space. The paper shows the existence of a unique invariant distribution. It also shows the equivalence between the stability and the uniqueness of the invariant distribution in this dynamic system. "^^; "2005-10"; "2019-06-25T13:34:32.553149515+00:00"^^; "https://doi.org/10.21034/wp.639"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "Wed Oct 23 17:32:28 2019"; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "881"; "Working paper (Federal Reserve Bank of Minneapolis. Research Department)"; "639"; "Global stability", "Stochastic growth", "Stochastic dominance", "Monotonic operator"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; "Published in _Journal of Mathematical Economics_ (Vol. 32, Iss. 2, February 2007, pp. 115-129), https://doi.org/10.1016/j.jmateco.2006.10.002."^^; ; "Publication" . ; .