Resuscitating the Cobweb Cycle

This note shows that permanent uctuations in the Cobweb model - though inconsistent with a rational expectations equilibrium - can be justified as being rational when reinterpreting the model in the theory of rational beliefs.

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Authors:	Klaus Reiner Schenk–Hoppé
Institutions:	Institut für Volkswirtschaftslehre, Wirtschaftswissenschaftliche Fakutät
Subject:	Cobweb model \| rational beliefs \| rational expectations

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Extent:	application/pdf
Series:	IEW - Working Papers. - ISSN 1424-0459.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IEW-working papers Number 123
Classification:	E32 - Business Fluctuations; Cycles
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005627895