This paper is a critical review of the literature on the “equity premium puzzle≓. The puzzle,
as originally articulated more than fifteen years ago, underscored the inability of the …

We study the long-term impact of climate change on economic activity across countries,
using a stochastic growth model where productivity is affected by deviations of temperature …

Three eminent economists provide in this book a rigorous, self-contained treatment of
modern economic dynamics. Nancy L. Stokey, Robert E. Lucas, Jr., and Edward C. Prescott …

The existence and stability of invariant distributions for stochastically monotone processes is
studied. The Knaster-Tarski fixed point theorem is applied to establish existence of fixed …

This paper attempts to provide an evaluation of both strengths and weaknesses of the real
business cycle (RBC) approach to the analysis of macroeconomic fluctuations. It begins with …

A rigorous and example-driven introduction to topics in economic dynamics, with an
emphasis on mathematical and computational techniques for modeling dynamic systems …

Experts define, review, and evaluate economic fluctuations Economic and business
uncertainty dominate today's economic analyses. This new Encyclopedia illuminates the …

This article considers the consequences of explicitly allowing for stochastic technological
progress and stochastic labor input in the discrete-time Solow-Swan and AK growth models …

This paper incorporates uncertainty in two distinct models of endogenous growth. In both
models the representative agent is uncertain about the productivity of knowledge creation …

Using lattice programming and order theoretic fixpoint theory, we develop a new class of
monotone iterative methods that provide a qualitative theory of Markovian equilibrium …