Sample-path stability of non-stationary dynamic economic systems (Q1854750)

The aim of this paper is to introduce and investigate a new approach to the stability analysis of sample-paths of non-linear stochastic economic models with non-stationary components. This approach is pursued in the theory of random dynamical systems with discrete time and applies the concept of a random fixed point which is Tailor-made for the study of the long-term behavior of sample-paths in stochastic systems. Finally the concept and the theorem are throughly explained and illustrated by examples from stochastic growth theory.