Between Dec 19, 2024 and Jan 2, 2025, datasets can be submitted to DRUM but will not be processed until after the break. Staff will not be available to answer email during this period, and will not be able to provide DOIs until after Jan 2. If you are in need of a DOI during this period, consider Dryad or OpenICPSR. Submission responses to the UDC may also be delayed during this time.
 

Invariant Distributions for Monotone Markov Processes

Hopenhayn, Hugo A.
Prescott, Edward C.
1987-09
Thumbnail Image

View/Download File

1987-242.pdf (1002.76 KB)

Persistent link to this item

https://hdl.handle.net/11299/55517
Statistics
View Statistics

Journal Title

Journal ISSN

Volume Title

Title

Invariant Distributions for Monotone Markov Processes

Authors

Published Date

1987-09

Publisher

Center for Economic Research, Department of Economics, University of Minnesota

Type

Working Paper

Abstract

The existence of fixed points for monotone maps on spaces of measures is established. The case of monotone Markov processes is analyzed and a uniqueness and global stability condition is developed. A comparative statics result is presented and the problem of approximation to the invariant distribution is discussed. The conditions of the theorems are verified for the cases of Optimal Stochastic Growth and Industry Equilibrium.

Keywords

Description

Related to

Replaces

License

Collections

Center for Economic Research Discussion Papers

Series/Report Number

Discussion Paper
242

Funding information

Isbn identifier

Doi identifier

Previously Published Citation

Hopenhayn, H.A. and Prescott, E.C., (1987), "Invariant Distributions for Monotone Markov Processes", Discussion Paper No. 242, Center for Economic Research, Department of Economics, University of Minnesota.

Other identifiers

Suggested citation

Hopenhayn, Hugo A.; Prescott, Edward C.. (1987). Invariant Distributions for Monotone Markov Processes. Retrieved from the University Digital Conservancy, https://hdl.handle.net/11299/55517.

Content distributed via the University Digital Conservancy may be subject to additional license and use restrictions applied by the depositor. By using these files, users agree to the Terms of Use. Materials in the UDC may contain content that is disturbing and/or harmful. For more information, please see our statement on harmful content in digital repositories.