BOSI, Stefano; DUFOURT, Frédéric; MAGRIS, Francesco - Institut de Recherche Économique et Sociale (IRES), … - 2007
The possibility of indeterminacy and sunspot fluctuations in dynamic rational expectations models has been often questioned on empirical grounds, for such models are widely believed to rely on implausibly high degrees of increasing returns to scale and/or other controversial calibrations of...