AMA, Lecture #2: Finite-state Markov chains and their applications
Overview:
• Building blocks of macroeconomic theory: Finite state Markov chains
• Stationarity, asymptotic stationarity, absorbing states
• Random numbers defined on a Markov chain
• Invariant functions, ergodicity
by Prof. Burda
more helpful content:
https://www.youtube.com/@macronotes36...
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