Econometrica Vol. 49 No. 4 1981
Stochastic Properties of Fast vs. Slow Growing Economies
Abstract
[This paper is concerned with characterizing the probability distributions that describe the (stochastic) stationary state of a neoclassical model of optimal growth. In particular, using both theoretical analysis and numerical simulation, we search for systematic relationships between savings (and investment) rates and variability of the economy's aggregates.]
- DOI
- 10.2307/1912515
- Volume
- 49
- Issue
- 4
- Pages
- 1007
- Sources
- bibtex:phds-export.bib openalex crossref