Coexistence of equilibria in a New Keynesian model with heterogeneous beliefs

DOI10.1016/J.CHAOS.2015.05.016MaRDI QIDQ506818zbMATH OpenOpenAlexFDO

Authors Anna Agliari, Nicolò Pecora, Alessandro Spelta

Publication date 2 February 2017

Published in Chaos, Solitons and Fractals (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.chaos.2015.05.016

zbMATH Keywords

monetary policyheterogeneous expectationsstandard New Keynesian model

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Dynamical systems in optimization and economics (37N40) Simulation of dynamical systems (37M05) Economic dynamics (91B55)

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Cites work

• scientific article; zbMATH DE number 1792281 (Why is no real title available?)
• A New Keynesian model with heterogeneous expectations
• A Rational Route to Randomness
• Animal spirits and monetary policy
• Bifurcations de points fixes elliptiques. I: Courbes invariantes
• Diverse beliefs and time variability of risk premia
• Dynamic predictor selection in a New Keynesian model with heterogeneous expectations
• Elements of applied bifurcation theory
• Expectations and the Stability Problem for Optimal Monetary Policies
• Homoclinic connections and subcritical Neimark bifurcation in a duopoly model with adaptively adjusted productions
• Inflation expectations and macroeconomic dynamics: the case of rational versus extrapolative expectations
• Intrinsic heterogeneity in expectation formation
• Macroeconomic Expectations of Households and Professional Forecasters
• Modeling diverse expectations in an aggregated New Keynesian model
• Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory*
• Some Methods for the Global Analysis of Closed Invariant Curves in Two-Dimensional Maps
• Some global bifurcations related to the appearance of closed invariant curves
• Sticky information and model uncertainty in survey data on inflation expectations
• The design of monetary and fiscal policy: a global perspective
• VOLATILITY CLUSTERING IN FINANCIAL MARKETS: A MICROSIMULATION OF INTERACTING AGENTS

Cited in

(6)

• Managing unanchored, heterogeneous expectations and liquidity traps
• Analysis of 1:4 resonance in a monopoly model with memory
• Dynamic predictor selection in a New Keynesian model with heterogeneous expectations
• Managing monetary policy in a New Keynesian model with many beliefs types
• A New Keynesian model with heterogeneous expectations
• Bayesian estimation and entropy for economic dynamic stochastic models: an exploration of overconsumption

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Uses Software

• DMC

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