On the local stability of sunspot equilibria under adaptive learning rules

DOI10.1006/JETH.1994.1059zbMATH Open0811.90015OpenAlexW2041691840MaRDI QIDQ1339744FDOQ1339744

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

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zbMATH Keywords

learninglocal stabilitystationary Markov sunspot equilibriadynamic nonlinear modelrecursive learning algorithm

Mathematics Subject Classification ID

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

Cited In (20)

• Expectational stability of stationary sunspot equilibria in a forward-looking linear model
• Representations and sunspot stability
• The RPEs of RBCs and other DSGEs
• Coherence without rationality at the zero lower bound
• Grouping for optimal growth
• E-equilibria and adaptive expectations: Output and inflation in the LBS model
• Monetary policy and stable indeterminacy with inertia
• Learning with bounded memory in stochastic models
• Ergodic chaos, learning and sunspot equilibrium
• Are sunspots learnable? An experimental investigation in a simple macroeconomic model
• Adaptive learning in regime-switching models
• Expectational stability of sunspot equilibria in non-convex economies
• Monetary policy, indeterminacy and learning
• Convergence of learning algorithms without a projection facility
• Stable sunspot solutions in models with predetermined variables
• Stable near-rational sunspot equilibria
• Expectational diversity in monetary economies
• Escape dynamics: a continuous-time approximation
• Existence of adaptively stable sunspot equilibria near an indeterminate steady state.
• E-stability vis-à-vis determinacy in regime-switching models

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