We compare two approaches for inclusion of uncertainty/variability in modelling growth in size-structured population models. One entails imposing a probabilistic structure on growth rates in the population while the other involves formulating growth as a stochastic Markov diffusion process. We present a theoretical analysis that allows one to include comparable levels of uncertainty in the two ...

in this study, the relationship between inflation and economic growth of iran is conciliated with a perspective on uncertainty of inflation. we use a generalized autoregressive conditional heteroskedasticity (garch) model that make possible this advantage that conditional variance of error term changes along the time, also, vector error correction model (vecm) is stable. for surveying the co-in...

Uncertainty is perceived as the means of removing the obstacles to growth through the activation of Knightian entrepreneurship. A dynamic stochastic model of continuous-time growth is proposed and empirically tested, including equilibrating and creative entrepreneurial activity. We find that uncertainty affects economic growth and the rate of return, and causes structural changes in portfolio s...