Learning Dynamics and the Memory Effect

This paper studies the relationships between determinacy and stability under recurdive learning of rational expectations equilibria. The analysis is carried out within a non-stochastic linear temporary general equilibrium framework with predetermined variables (or memory). Determinacy of the unique stationary rational expectations equilibrium is shown to be a benchmark for stability under learning of linear non-stationary rational expectations equilibria.

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Year of publication:	1998
Authors:	Gauthier, S.
Institutions:	Département et Laboratoire d'Économie Théorique Appliquée (DELTA), École Normale Supérieure (ENS Paris)
Subject:	LEARNING

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Series:	DELTA Working Papers.
Type of publication:	Book / Working Paper
Notes:	22 pages
Classification:	E32 - Business Fluctuations; Cycles
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005256747