Stochastic shocks in a two-sector Solow model
Marsiglio, Simone (2012) Stochastic shocks in a two-sector Solow model. International Journal of Mathematical Modelling and Numerical Optimisation, 3 (4). pp. 313-318.
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View at Publisher Website: http://dx.doi.org/10.1504/IJMMNO.2012.04...
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Abstract
We study a stochastic, discrete-time, two-sector growth model á-la Solow (1956) characterized by perpetual growth. Assuming that exogenous i.i.d. shocks hit the physical production sector, we show that the capital dynamics can be converted, through an appropriate log-transformation, into an Iterated Function System converging to an invariant distribution supported on a Cantor set.
| Item ID: | 24842 |
|---|---|
| Item Type: | Article (Research - C1) |
| ISSN: | 2040-3607 |
| Keywords: | fractals; iterated function system; cantor set; stochastic growth |
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| Date Deposited: | 06 Feb 2013 04:05 |
| FoR Codes: | 14 ECONOMICS > 1401 Economic Theory > 140102 Macroeconomic Theory @ 40% 14 ECONOMICS > 1401 Economic Theory > 140103 Mathematical Economics @ 20% 14 ECONOMICS > 1402 Applied Economics > 140202 Economic Development and Growth @ 40% |
| SEO Codes: | 91 ECONOMIC FRAMEWORK > 9101 Macroeconomics > 910103 Economic Growth @ 80% 97 EXPANDING KNOWLEDGE > 970101 Expanding Knowledge in the Mathematical Sciences @ 20% |
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