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Stochastic stability of monotone economies in regenerative environments. / Foss, Sergey; Shneer, Vsevolod; Thomas, Jonathan P. et al.

In: Journal of Economic Theory, Vol. 173, 01.01.2018, p. 334-360.

Research output: Contribution to journal › Article › peer-review

Harvard

Foss, S, Shneer, V, Thomas, JP & Worrall, T 2018, 'Stochastic stability of monotone economies in regenerative environments', Journal of Economic Theory, vol. 173, pp. 334-360. https://doi.org/10.1016/j.jet.2017.11.004

APA

Foss, S., Shneer, V., Thomas, J. P., & Worrall, T. (2018). Stochastic stability of monotone economies in regenerative environments. Journal of Economic Theory, 173, 334-360. https://doi.org/10.1016/j.jet.2017.11.004

Vancouver

Foss S, Shneer V, Thomas JP, Worrall T. Stochastic stability of monotone economies in regenerative environments. Journal of Economic Theory. 2018 Jan 1;173:334-360. doi: 10.1016/j.jet.2017.11.004

Author

Foss, Sergey ; Shneer, Vsevolod ; Thomas, Jonathan P. et al. / Stochastic stability of monotone economies in regenerative environments. In: Journal of Economic Theory. 2018 ; Vol. 173. pp. 334-360.

BibTeX

@article{651305a3c1714147acd1c52a0e112566,
title = "Stochastic stability of monotone economies in regenerative environments",
abstract = "We introduce and analyze a new class of monotone stochastic recursions in a regenerative environment which is essentially broader than that of Markov chains. We prove stability theorems and apply our results to three canonical models in recursive economics, generalizing some known stability results to the cases when driving sequences are not independent and identically distributed.",
keywords = "Bewley–Imrohoroglu–Huggett–Aiyagari model, Monotone economy, One sector stochastic growth model, Risk-sharing model, Stochastic recursion, Stochastic stability, DYNAMIC ECONOMIES, INSURANCE, RISK, COMMITMENT, EQUILIBRIUM, GROWTH, Bewley-Imrohoroglu-Huggett-Aiyagari model",
author = "Sergey Foss and Vsevolod Shneer and Thomas, {Jonathan P.} and Tim Worrall",
note = "Publisher Copyright: {\textcopyright} 2017",
year = "2018",
month = jan,
day = "1",
doi = "10.1016/j.jet.2017.11.004",
language = "English",
volume = "173",
pages = "334--360",
journal = "Journal of Economic Theory",
issn = "0022-0531",
publisher = "Academic Press Inc.",

}

RIS

TY - JOUR

T1 - Stochastic stability of monotone economies in regenerative environments

AU - Foss, Sergey

AU - Shneer, Vsevolod

AU - Thomas, Jonathan P.

AU - Worrall, Tim

N1 - Publisher Copyright: © 2017

PY - 2018/1/1

Y1 - 2018/1/1

N2 - We introduce and analyze a new class of monotone stochastic recursions in a regenerative environment which is essentially broader than that of Markov chains. We prove stability theorems and apply our results to three canonical models in recursive economics, generalizing some known stability results to the cases when driving sequences are not independent and identically distributed.

AB - We introduce and analyze a new class of monotone stochastic recursions in a regenerative environment which is essentially broader than that of Markov chains. We prove stability theorems and apply our results to three canonical models in recursive economics, generalizing some known stability results to the cases when driving sequences are not independent and identically distributed.

KW - Bewley–Imrohoroglu–Huggett–Aiyagari model

KW - Monotone economy

KW - One sector stochastic growth model

KW - Risk-sharing model

KW - Stochastic recursion

KW - Stochastic stability

KW - DYNAMIC ECONOMIES

KW - INSURANCE

KW - RISK

KW - COMMITMENT

KW - EQUILIBRIUM

KW - GROWTH

KW - Bewley-Imrohoroglu-Huggett-Aiyagari model

UR - http://www.scopus.com/inward/record.url?scp=85035083617&partnerID=8YFLogxK

U2 - 10.1016/j.jet.2017.11.004

DO - 10.1016/j.jet.2017.11.004

M3 - Article

AN - SCOPUS:85035083617

VL - 173

SP - 334

EP - 360

JO - Journal of Economic Theory

JF - Journal of Economic Theory

SN - 0022-0531

ER -

ID: 12100514