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Positive Harris recurrence and exponential ergodicity of the basic affine jump-diffusion
Article de revue   Avec comité de lecture

Positive Harris recurrence and exponential ergodicity of the basic affine jump-diffusion

Peng Jin, Barbara Ruediger et Chiraz Trabelsi
Stochastic analysis and applications, Vol.34(1), pp.75-95
02/01/2016

Résumé

Mathematics Mathematics, Applied Physical Sciences Science & Technology Statistics & Probability
In this article, we find the transition densities of the basic affine jump-diffusion (BAJD), which has been introduced by Duffie and Garleanu as an extension of the CIR model with jumps. We prove the positive Harris recurrence and exponential ergodicity of the BAJD. Furthermore, we prove that the unique invariant probability measure of the BAJD is absolutely continuous with respect to the Lebesgue measure and we also derive a closed-form formula for the density function of pi.

Indicateurs

1 Consultations de la notice

Détails

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