Creator

• Hopenhayn, Hugo Andres.
• Prescott, Edward C.

Series

• Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)

Issue number

• 299

Palabra Clave

• Stochastic optimization
• Monotone Markov process
• Invariant Markov process

Subject

• C61 - Mathematical methods and programming - Optimization techniques ; Programming models ; Dynamic analysis

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.

Colaboradores

• Federal Reserve Bank of Minneapolis. Research Dept.

Date Created

• 1986-03

Date Modified

• 03/15/2018

Publisher

• Federal Reserve Bank of Minneapolis. Research Division.

Resource type

• Research Paper

Relaciones

En Collection:

• Working Papers Archive

Última modificación

Zipped Files

Download a zip file that contains all the files in this work.

Elementos

Miniatura	Título	Fecha de subida	Visibilidad	Acciones
	19860300fedmwp299.pdf	2018-03-13	Público	Press to Selecciona una acción Descargar