SELCKE
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Related Articles from SNS
Statistical and Numerical Convergence in Stochastic Equilibrium
arXiv:2606.07469v1 Announce Type: cross Abstract: This paper sets out the most general computational and econometric implications of the rigorous stochastic equilibrium theory from SELCKE (Staines (2024a)) The analytical backbone is the discovery that the system converges geometrically to long-run equilibrium, at a rate given by the greater of the eigenvalue or inverse eigenvalue (from outside) closest to the unit circle and the maximum shock persistence. High-order shocks converge faster.