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| Type | Working Paper |
| Scope | Discipline-based scholarship |
| Title | Random Fixed Points in a Stochastic Solow Growth Model |
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| Institution | University of Zurich |
| Series Name | Working paper series / Institute for Empirical Research in Economics |
| Number | No. 65 |
| ISSN | 1424-0459 |
| Date | 2000 |
| Abstract Text | This paper presents a complete analysis of a stochastic version of the Solow growth model in which all parameters are ergodic random variables. Applying random dynamical systems theory, we prove that the dynamics and, in particular, the long-runnbehavior is uniquely determined by a globally attracting stable random fixed point. We also discuss the relation of our approach to that of ergodic Markov equilibria. |
| Official URL | http://www.econ.uzh.ch/wp.html |
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