A continuum of path-dependent equilibrium solutions induced by sticky expectations.

DOI10.21136/am.2023.0229-22arXiv1711.08038OpenAlexW2769017650MaRDI QIDQ6136997

Eyram Kwame, Pavel Krejči, Harbir Lamba, Andrei Zagvozdkin, Dmitrii I. Rachinskii

Publication date: 18 January 2024

Published in: Applications of Mathematics (Search for Journal in Brave)

Full work available at URL: https://arxiv.org/abs/1711.08038

zbMATH Keywords

equilibrium pointmacroeconomic modelpath-dependencerational expectationhysteresis play operatorsticky inflation

Mathematics Subject Classification ID

Dynamical systems in optimization and economics (37N40) Equations with nonlinear hysteresis operators (47J40)

Cites Work

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• Sticky Information versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve
• The global stability of a class of history-dependent macroeconomic models

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