On existence and uniqueness of stationary distributions without continuity Public Deposited

Creator Series Issue number
  • 299
Keyword Subject 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.
Alternative title
  • Stochastic monotonicity and stationary distributions for dynamic economies / Hugo A. Hopenhayn, Edward C. Prescott.
  • Invariant distributions for monotone Markov processes / Hugo A. Hopenhayn, Edward C. Prescott.
  • Invariant distributions for discontinuous monotone Markov processes / Hugo A. Hopenhayn, Edward C. Prescott.
Contributor Date Created
  • 1986-03
Date Modified
  • 03/15/2018
Publisher
  • Federal Reserve Bank of Minneapolis. Research Division.
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