Random Dynamical Systems in Economics
University of Zurich, IEER Working Paper No. 67
21 Pages Posted: 4 Apr 2002
Date Written: December 2000
This paper surveys recent advances in the application of random dynamical systems theory in economics. It illustrates the usefulness of this framework for modeling and analysis of economic phenomena with stochastic components, mainly focusing on stochastic dynamic models in economic growth. The paper also highlights some directions for further applications and interdisciplinary research on random dynamical systems.
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