English, Article, Journal or magazine article edition: Discounting Long Run Average Growth in Stochastic Dynamic Programs Duran, Jorge

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/178315
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Discounting Long Run Average Growth in Stochastic Dynamic Programs
Author
  • Duran, Jorge
Physical Description
  • preprint
Notes
  • RePEc:cpm:cepmap:0101
  • Finding solutions to the Bellman equation relies on restrictive boundedness assumptions. The literature on endogenous growth or business cycle models with unbounded random shocks provide with numerous examples of recursive programs in which returns are not bounded along feasible paths. In this paper we develop a method of proof that allows to account for models of this type. In applications our assumptions only imply that long run average (expected) growth is sufficiently discounted, in sharp contrast with classical assumptions either absolutely bounding growth or bounding each period (instead of long run) maximum (instead of average) growth. We discuss our work in relation to the literature and provide several examples.
  • Dynamic programming; Weighted norms; Contraction mappings; Dominated convergence; Non additive recursive functions
  • RePEc:ctl:louvir:2000006
Language
  • English
Contributed by
OAIster

Get this edition

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment