Multiple Stable Equilibria in an Optimizing Perfect-Foresight Model

DOI10.2307/1911471zbMath0526.90026OpenAlexW1993712623MaRDI QIDQ3040882

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

rational expectationsperfect foresightasset-market modelsinfinite-horizon, monetary optimizing modelmultiple convergent equilibrium pathsmultiplicity of stable equilibria

Mathematics Subject Classification ID

Economic growth models (91B62)

Related Items (5)

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

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