On the local stability of sunspot equilibria under adaptive learning rules

DOI10.1006/JETH.1994.1059MaRDI QIDQ1339744zbMATH OpenOpenAlexFDO

Authors George W. Evans, Seppo Honkapohja

Publication date 8 December 1994

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

Full work available at URL https://doi.org/10.1006/jeth.1994.1059

zbMATH Keywords

dynamic nonlinear modellearninglocal stabilityrecursive learning algorithmstationary Markov sunspot equilibria

Mathematics Subject Classification ID

General equilibrium theory (91B50) Economic growth models (91B62) Memory and learning in psychology (91E40)

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• Are sunspots learnable? An experimental investigation in a simple macroeconomic model
• Stable near-rational sunspot equilibria
• Representations and sunspot stability
• Learning to Believe in Sunspots
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• Adaptive learning in regime-switching models
• Coherence without rationality at the zero lower bound
• Learning with bounded memory in stochastic models
• Expectational stability of stationary sunspot equilibria in a forward-looking linear model
• Stable sunspot solutions in models with predetermined variables
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