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STOCHASTIC VERSION OF POLTEROVICH'S MODEL: EXPONENTIAL TURNPIKE THEOREMS FOR EQUILIBRIUM PATHS

Published online by Cambridge University Press:  01 June 1999

Rabah Amir  and
Igor Evstigneev
Rabah Amir
Affiliation:
University of Southern Denmark
Igor Evstigneev
Affiliation:
Central Economics and Mathematics Institute, Academy of Sciences of Russia
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Abstract

The paper examines a stochastic analogue of the Polterovich model of economic dynamics. The study focuses on the asymptotic properties of equilibrium paths. The main results are stochastic turnpike theorems with exponential estimates of the convergence rate.

Keywords

Equilibrium DynamicsPolterovich's modelStochastic Equilibrium PathsExponential Turnpike PropertyStationary Equilibrium
Type
Research Article
Information
Macroeconomic Dynamics , Volume 3 , Issue 2 , June 1999 , pp. 149 - 166
Copyright
© 1999 Cambridge University Press

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