Stabilizing competitive business cycles
This article continues recent attempts to establish and apply a theory of the business cycle in a strictly competitive framework where all markets clear. The case of perfect foresight is analyzed first and (in the usual way) by means of the traders' offer curve, which - if it displays a significant jump - can lead to complicated patterns of behaviour of intertemporal equilibrium sequences. The analysis is then extended to stationary Markov sunspot equilibria. The existence and properties of these equilibria are investigated by means of new, constructive methods. Stabilization policies and their effect with regard to the asymptotic stability of the model are discussed for both cases in the final section of this paper.
- Business cycle dynamics and stabilization policies. A Keynesian approach
- scientific article; zbMATH DE number 3974681
- On Endogenous Competitive Business Cycles
- Existence and stability of business cycles
- Stable periodic economic cycles from controlling
- On competitive cycles in productive economies
- Optimal policy business cycles
- Destabilizing optimal policies in the business cycle
- Endogenous strategic business cycles
- Competitive equilibrium cycles
- scientific article; zbMATH DE number 3245885 (Why is no real title available?)
- scientific article; zbMATH DE number 3274494 (Why is no real title available?)
- On Endogenous Competitive Business Cycles
- Rational Expectations in Dynamic Linear Models: Analysis of the Solutions
- Self-fulfilling prophecies
- Sunspots and Cycles
- Temporary General Equilibrium Theory
- Stationary sunspot equilibria in a finance constrained economy
- Dynamic determinacy and the existence of sunspot equilibria
- A note on the stability of endogenous cycles in Diamond's model of search and barter
- Introduction to market psychology and nonlinear endogenous business cycles
- Capital-labor substitution and competitive nonlinear endogenous business cycles
- Money taxes and efficiency when sunspots matter
- Determinacy of equilibrium under alternative policy regimes. Introduction to the symposium
- Monetary policy and price level determinacy in a cash-in-advance economy
- Fiscal rules and extrinsic uncertainty
- The economic effects of restrictions on government budget deficits
- Cycles and sunspots: The Poincaré-Hopf approach
- Legal restrictions, ``sunspots, and cycles
- Pareto optimal improvements for sunspots: The golden rule as a target for stabilization
- Optimal policy in OG models
- Monetary policy transmission in a model with animal spirits and house price booms and busts
- Pollution, mortality and time consistent abatement taxes
- Bubble-free policy feedback rules
- On Endogenous Competitive Business Cycles
- scientific article; zbMATH DE number 3974681 (Why is no real title available?)
- On the Inventory Cycle and the Instability of the Competitive Mechanism
- A Contribution to the Theory of Business Cycles
- Rational bubbles and macroeconomic fluctuations: the (de-)stabilizing role of monetary policy
- Monetary stability and liquidity crises: The role of the lender of last resort
- Time and uncertainty in overlapping generations economies
- Refinement of dynamic equilibrium using small random perturbations
- Theoretical tests of the rational expectations hypothesis in economic dynamical models
- Resolution of chaos with application to a modified Samuelson model
- Local sunspot equilibria reconsidered
- Functional sunspot equilibria
- Indeterminacy, sunspots, and development traps
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