RESEARCH PAPER NO. 787
STOCHASTIC GROWTH: ASYMPTOTIC DISTRIBUTIONS
by
JOHN STACHURSKI
MAY 2001
Department of Economics. University of Melbourne. Melbourne Victoria 3010 Australia
ABSTRACT
This note studies conditions under which sequences of capital per head generated by stochastic optimal accumulation models have law of large numbers and central limit properties. The regularity condition used on the productivity shock is somewhat different to that of previous studies. In particular, no restrictions are placed on its support. Instead, an "average contraction" property is required on the law of motion.
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