Stationarity is a very common assumption in time series analysis. A vector autoregressive process stationary if and only the roots of its characteristic equation lie outside unit circle, constraining coefficient matrices to region. However, region has highly complex geometry which impedes specification prior distribution. In this work, an unconstrained reparameterization autoregression presente...

For Markov processes with absorption, we provide general criteria ensuring the existence and exponential non-uniform convergence in weighted total variation norm to a quasi-stationary distribution. We also characterize subset of its domain attraction by an integrability condition, prove right eigenvector for semigroup process ergodicity Q-process. These results are applied one-dimensional multi...

We consider an optimal control problem, whose state is given as the solution of the obstacle problem. The controls are not assumed to be dense in H−1(Ω). Hence, local minimizers may not be strongly stationary. By a non-smooth regularization technique similar to the virtual control regularization, we prove a system of C-stationarity using only minimal regularity requirements. We show that even a...

A. Topics and Tools ............................................................................ 1 B. Walrasian vs. Keynesian Explanations of Business Cycles ........................ 3 Why do we have multiple theories of business cycles? ....................................................... 3 Classification of business-cycle models ................................................................