Stabilizing competitive business cycles

DOI10.1016/0022-0531(86)90007-4zbMath0603.90047OpenAlexW2072196862MaRDI QIDQ1083018

Jean-Michel Grandmont

Publication date: 1986

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: http://hdl.handle.net/1814/22984

zbMATH Keywords

existenceasymptotic stabilitybusiness cycleperfect foresightintertemporal equilibrium sequencesStabilization policiesstationary Markov sunspot equilibriastrictly competitive framework

Mathematics Subject Classification ID

Economic growth models (91B62) Asymptotic stability in control theory (93D20) General equilibrium theory (91B50)

Related Items (24)

Stationary sunspot equilibria in a finance constrained economy ⋮ Determinacy of equilibrium under alternative policy regimes. Introduction to the symposium ⋮ Monetary policy and price level determinacy in a cash-in-advance economy ⋮ Fiscal rules and extrinsic uncertainty ⋮ Dynamic determinacy and the existence of sunspot equilibria ⋮ Local sunspot equilibria reconsidered ⋮ Pollution, mortality and time consistent abatement taxes ⋮ Functional sunspot equilibria ⋮ Refinement of dynamic equilibrium using small random perturbations ⋮ Optimal policy in OG models ⋮ Rational bubbles and macroeconomic fluctuations: the (de-)stabilizing role of monetary policy ⋮ Indeterminacy, sunspots, and development traps ⋮ Monetary policy transmission in a model with animal spirits and house price booms and busts ⋮ Theoretical tests of the rational expectations hypothesis in economic dynamical models ⋮ Bubble-free policy feedback rules ⋮ Monetary stability and liquidity crises: The role of the lender of last resort ⋮ Time and uncertainty in overlapping generations economies ⋮ Resolution of chaos with application to a modified Samuelson model ⋮ Introduction to market psychology and nonlinear endogenous business cycles ⋮ Capital-labor substitution and competitive nonlinear endogenous business cycles ⋮ Cycles and sunspots: The Poincaré-Hopf approach ⋮ Money taxes and efficiency when sunspots matter ⋮ Legal restrictions, ``sunspots, and cycles ⋮ The economic effects of restrictions on government budget deficits

Cites Work

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• Self-fulfilling prophecies
• Competitive equilibrium cycles
• On Endogenous Competitive Business Cycles
• Rational Expectations in Dynamic Linear Models: Analysis of the Solutions
• Temporary General Equilibrium Theory
• Sunspots and Cycles

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