On the global asymptotic stability and oscillation of solutions in a stochastic business cycle model. (English) Zbl 1390.39035
Summary: We discuss a second order nonlinear stochastic difference equation which is constructed of a business cycle model with organized labor considered. A global asymptotic mean square stability criterion is obtained by Lyapunov function method. We also prove a theorem on the almost sure oscillation of the solutions for the difference equation with state-independent stochastic perturbations.
MSC:
| 39A21 | Oscillation theory for difference equations |
| 39A50 | Stochastic difference equations |
| 60F15 | Strong limit theorems |
| 91B64 | Macroeconomic theory (monetary models, models of taxation) |
| 60B10 | Convergence of probability measures |
| 60G50 | Sums of independent random variables; random walks |
| 91B70 | Stochastic models in economics |
References:
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