Stochastic Growth: Asymptotic Distributions

Stachurski, John

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Stochastic Growth: Asymptotic Distributions

Date

2003

Authors

Stachurski, John

Publisher

Springer

Abstract

This note studies conditions under which sequences of state variables generated by discrete-time stochastic optimal accumulation models have law of large numbers and central limit properties. Productivity shocks with unbounded support are considered. Instead of restrictions on the support of the shock, an "average contraction" property is required on technology.