Stability and mean growth rate of stochastic Solow model driven by jump–diffusion process
研究了技术部分包含波动和跳跃的随机索洛增长模型，给出了随机稳定性和指数稳定性的判据，并计算了平衡增长路径上的高阶矩和平均增长率。
This work focuses on the stability and mean growth rate of stochastic Solow growth model. The uncertainty in our model is generated by the technology part, which includes fluctuations on the technological accumulation and jump growth from new inventions and ideas. We introduce the criteria of stability, including stochastic stability and exponential stability, and the sufficient condition for the existence of balanced growth path. Furthermore, we precisely calculate the higher-order moment of effective capital–labor ratio and the mean growth rate of major economic quantities on the balanced growth path. Our analysis sheds light on the impact of various stochastic effects on economic quantities and provides insight into the stability of the stochastic Solow model with technological uncertainty.