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Persistent link: https://www.econbiz.de/10005212120
This paper studies relationships between the local determinacy of a stationary equilibrium in the perfect foresight dynamics, and its local stability in dynamics arising from econometric learning procedures. There is no clear links in linear scalar economieds where agents forecast only one...
Persistent link: https://www.econbiz.de/10005256697
methodology views rational expectations equilibria as reasonable predictors whenever they can be derived from more basic Common …
Persistent link: https://www.econbiz.de/10005256803
We consider Rational Expectations Equilibria in infinite horizon models in which equilibrium to-day depends upon the …
Persistent link: https://www.econbiz.de/10005256809
Persistent link: https://www.econbiz.de/10005811865
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intervention aiming at stabilizing economic agents' expectations. The Rational Expectations Hypothesis, "evolutive" and "eductive …
Persistent link: https://www.econbiz.de/10005256771
In this paper we study expectations coordination on a deterministic 2-cycle by an "eductive" approach in which agents … show that eductively stable 2-cycles exit. We also show that heterogeneity of fundamentals and expectations create …
Persistent link: https://www.econbiz.de/10005811863
In this paper we study expectations coordination on the stationary state in a one dimensional economy. We allow for two …
Persistent link: https://www.econbiz.de/10005811886