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Stability Analysis for Random Dynamical Systems in Economics

Author

Listed:
  • Takashi Kamihigashi

    (Research Institute for Economics & Business Administration (RIEB), Kobe University, Japan)

  • John Stachurski

    (Research School of Economics, Australian National University, Australia)

Abstract
Random dynamical systems encountered in economics have certain distinctive characteristics that make them particularly well suited to analysis using the tools for studying Markov processes developed by Rabi N. Bhattacharya and his coauthors over the last few decades. In this essay we discuss the significance of these tools for both mathematicians and economists, provide some historical perspective and review some recent related contributions.

Suggested Citation

  • Takashi Kamihigashi & John Stachurski, 2014. "Stability Analysis for Random Dynamical Systems in Economics," Discussion Paper Series DP2014-35, Research Institute for Economics & Business Administration, Kobe University.
    • Handle: RePEc:kob:dpaper:dp2014-35
    as

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    File URL: https://www.rieb.kobe-u.ac.jp/academic/ra/dp/English/DP2014-35.pdf
    File Function: First version, 2014
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    References listed on IDEAS

    as
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