Stochastic Process Switching: Some Simple Solutions
收藏NBER1989-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w2998
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资源简介：
When changes in the economic policy regime occur stochastically, asset prices will reflect the possibility of such shifts. In this paper we apply techniques of regulated Brownian motion to obtain closed-form analytic price solutions when policy reaction functions are subject to prospective changes.
提供机构：
美国国家经济研究局
创建时间：
1989-06-01
