Invariant Distributions for Monotone Markov Processes Público Deposited

Creator Series Issue number
  • 374
Date Created
  • 1986-08
Abstract
  • The existence of fixed points for monotone maps on spaces of measures is established. The case of monotone Markov processes is analyzed and a uniqueness and global stability condition is developed. A comparative statics result is presented and the problem of approximation to the invariant distribution is discussed. The conditions of the theorems are verified for the cases of Optimal Stochastic Growth and Industry Equilibrium.

Subject (JEL) Palavra-chave Related information
Alternative title
  • Stochastic monotonicity and stationary distributions for dynamic economies / Hugo A. Hopenhayn, Edward C. Prescott.
  • Invariant distributions for discontinuous monotone Markov processes / Hugo A. Hopenhayn, Edward C. Prescott.
  • On existence and uniqueness of stationary distributions without continuity / Hugo Hopenhayn, Edward Prescott.
Date Modified
  • 07/12/2019
Corporate Author
  • Federal Reserve Bank of Minneapolis. Research Department
Publisher
  • Federal Reserve Bank of Minneapolis
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