Expectational stability of stationary sunspot equilibria in a forward-looking linear model

DOI10.1016/S0165-1889(02)00137-9zbMath1179.91139MaRDI QIDQ951447

George W. Evans, Seppo Honkapohja

Publication date: 24 October 2008

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

zbMATH Keywords

indeterminacyendogenous fluctuationslearnabilityexpectational stabilityrepresentations of solutions

Mathematics Subject Classification ID

Special types of economic equilibria (91B52) Stochastic models in economics (91B70) Rationality and learning in game theory (91A26)

Related Items (7)

REPRESENTATIONS AND SUNSPOT STABILITY ⋮ Existence of adaptively stable sunspot equilibria near an indeterminate steady state. ⋮ Stable sunspot solutions in models with predetermined variables ⋮ E-stability vis-à-vis determinacy in regime-switching models ⋮ Monetary policy, indeterminacy and learning ⋮ ADAPTIVE LEARNING IN REGIME-SWITCHING MODELS ⋮ Heterogeneous expectations, sunspot equilibria and their fragility

Cites Work

• Unnamed Item
• Stationary sunspot equilibria in an N commodity world
• On the local stability of sunspot equilibria under adaptive learning rules
• Existence of adaptively stable sunspot equilibria near an indeterminate steady state.
• Learning to Believe in Sunspots
• A Complete Characterization of ARMA Solutions to Linear Rational Expectations Models
• Rational Expectations in Dynamic Linear Models: Analysis of the Solutions
• Sunspot Fluctuations Around a Steady State: The Case of Multidimensional One-Step Forward Looking Economic Models
• EXPECTATIONS COORDINATION ON A SUNSPOT EQUILIBRIUM: AN EDUCTIVE APPROACH
• Sunspots and Cycles

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