A Finite Set of Equilibria for the Indeterminacy of Linear Rational Expectations Models

This paper demonstrates the existence of a finite set of equilibria in the case of the indeterminacy of linear rational expectations models. The number of equilibria corresponds to the number of ways to select n eigenvectors among a larger set of eigenvectors related to stable eigenvalues. A finite set of equilibria is a substitute to continuous (uncountable) sets of sunspots equilibria, when the number of independent eigenvectors for each stable eigenvalue is equal to one

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Year of publication:	2014
Authors:	Chatelain, Jean-Bernard
Other Persons:	Ralf, Kirsten (contributor)
Publisher:	[2014]: [S.l.] : SSRN
Subject:	Rationale Erwartung \| Rational expectations \| Gleichgewichtstheorie \| Equilibrium theory

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Extent:	1 Online-Ressource (7 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 23, 2014 erstellt
Other identifiers:	10.2139/ssrn.2470562 [DOI]
Classification:	C60 - Mathematical Methods and Programming. General ; C61 - Optimization Techniques; Programming Models; Dynamic Analysis ; C62 - Existence and Stability Conditions of Equilibrium ; E13 - Neoclassical ; E60 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013050390