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Stochastic Stability in Monotone Economies

Kamihigashi, Takashi; Stachurski, John

Description

This paper extends a family of well known stability theorems for monotone economies to a significantly larger class of models. We provide a set of general conditions for existence, uniqueness, and stability of stationary distributions when monotonicity holds. The conditions in our main result are both necessary and sufficient for global stability of monotone economies that satisfy a weak mixing condition introduced in the paper. Through our analysis, we develop new insights into the nature and...[Show more]

CollectionsANU Research Publications
Date published: 2014
Type: Journal article
URI: http://hdl.handle.net/1885/34555
Source: Theoretical Economics
DOI: 10.3982/TE1367

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