52 citations · 119 across the 24 of their papers we have counts for
4 papers · 1 filter
The Income Fluctuation Problem with Capital Income Risk: Optimality and Stability
Qingyin Ma, John Stachurski, Alexis Akira Toda
This paper studies the income fluctuation problem with capital income risk (i.e., dispersion in the rate of return to wealth). Wealth returns and labor earnings are allowed to be s…
Dynamic Programming with Recursive Preferences: Optimality and Applications
Guanlong Ren, John Stachurski
This paper provides new conditions for dynamic optimality in discrete time and uses them to establish fundamental dynamic programming results for several commonly used recursive pr…
Dynamic Programming Deconstructed: Transformations of the Bellman Equation and Computational Efficiency
Qingyin Ma, John Stachurski
Some approaches to solving challenging dynamic programming problems, such as Q-learning, begin by transforming the Bellman equation into an alternative functional equation, in orde…
An Impossibility Theorem for Wealth in Heterogeneous-agent Models with Limited Heterogeneity
John Stachurski, Alexis Akira Toda
It has been conjectured that canonical Bewley--Huggett--Aiyagari heterogeneous-agent models cannot explain the joint distribution of income and wealth. The results stated below ver…