The stationary solution of a random dynamical model
This paper studies the stationary probability density function (PDF) solution of a nonlinear business cycle model subjected to random shocks of Gaussian white-noise type. The PDF solution is controlled by a Fokker–Planck–Kolmogorov (FPK) equation, and we use exponential polynomial closure (EPC) meth...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2014-01-01
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| Series: | Theoretical and Applied Mechanics Letters |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2095034915302890 |