RESEARCH PAPER NO. 834

RANDOM DYNAMICAL SYSTEMS WITH MULTIPLICATIVE NOISE

by

JOHN STACHURSKI

JANUARY 2002

Department of Economics. University of Melbourne. Melbourne Victoria 3010 Australia

ABSTRACT

The paper considers stochastic economic systems generating nonlinear time series on the positive half-ray R+. Using Liapunov techniques, new conditions for existence, uniqueness and stability of stationary equilibria are obtained. The conditions generalize an earlier result on perturbed dynamical systems due to K. Horbacz.

 

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