Original Paper

Economic Theory

, Volume 23, Issue 1, pp 13-38 (2004)

First online:

Random dynamical systems: a review

  • Rabi BhattacharyaAffiliated withDepartment of Mathematics, University of Arizona Email author 
  • , Mukul MajumdarAffiliated withDepartment of Economics, Cornell University

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This paper provides a review of some results on the stability of random dynamical systems and indicates a number of applications to stochastic growth models, linear and non-linear time series models, statistical estimation of invariant distributions, and random iterations of quadratic maps.

Keywords and Phrases:

Random dynamical systems Stability Splitting Contractions Stochastic growth Time series Estimation.