Multiple Stable Equilibria in an Optimizing Perfect-Foresight Model

DOI10.2307/1911471MaRDI QIDQ3040882zbMATH OpenOpenAlexFDO

Authors Maurice Obstfeld

Publication date 1984

Published in Econometrica (Search for Journal in Brave)

Full work available at URL https://doi.org/10.2307/1911471

zbMATH Keywords

asset-market modelsinfinite-horizon, monetary optimizing modelmultiple convergent equilibrium pathsmultiplicity of stable equilibriaperfect foresightrational expectations

Mathematics Subject Classification ID

Economic growth models (91B62)

Cited in

(5)

• Chaotic dynamics in a cash-in-advance economy
• Non-separable utility function and indeterminacy of equilibrium in a model with human capital
• Indeterminacy in incomplete market economies
• Monetary policy and price level determinacy in a cash-in-advance economy
• Ruling out Pareto dominated monetary equilibria

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