John Stachurski

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The look-ahead estimator is used to compute densities associated with Markov processes via simulation. We study a framework that extends the look-ahead esti-mator to a much broader range of applications. We provide a general asymptotic theory for the estimator, where both L 1 consistency and L 2 asymptotic normality are established. The L 2 asymptotic(More)
We study a two-country version of Matsuyama's (Econometrica, 72, p. 853–84, 2004) world economy model. As in Matsuyama's model, symmetry-breaking can be observed, and symmetry-breaking generates endogenously determined levels of inequality. In addition, we show that when the countries differ in population size, their interaction through credit markets may(More)
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