单调混合与分布动力学

中文摘要 AI 辅助

许多经济应用利用Hopenhayn和Prescott（1992）的单调混合条件（MMC）来建立马尔可夫动力学的稳定性。在该论文的相同设定下，我们引入了一个弱单调混合条件（WMMC），该条件以总体之间秩的逆转来表述，并证明它严格弱于MMC，并且在Kolmogorov度量下是全局稳定性的充分必要条件。我们将这些结果应用于Aiyagari模型的一个小型开放经济版本，展示了在MMC失效的情况下，WMMC如何用于建立全局稳定性。此外，我们证明，当状态空间是一维时，MMC和WMMC重合，这意味着在此设定下，原始的MMC既是必要的也是充分的。

英文摘要

Many economic applications establish stability of Markov dynamics using the monotone mixing condition (MMC) of Hopenhayn and Prescott (1992). Working in the same setting as that paper, we introduce a weak monotone mixing condition (WMMC), phrased in terms of the reversal of rank between populations, and show that it is strictly weaker than the MMC and both necessary and sufficient for global stability under the Kolmogorov metric. We apply these results to a small open economy version of the Aiyagari model, showing how the WMMC can be used to establish global stability in a setting where the MMC fails. In addition, we show that, when the state space is one-dimensional, the MMC and WMMC coincide, implying that the original MMC is necessary as well as sufficient in this setting.

发表机构

• Kobe University（神户大学）
• Capital University of Economics and Business（首都经济贸易大学）
• National Graduate Institute for Policy Studies（国立政策研究大学院大学）

机构由 AI 辅助整理，请以论文原文为准。