Chiappori, Pierre-Andre; Guesnerie, Roger - In: Review of Economic Studies 60 (1993) 4, pp. 837-64
This paper examines, within the framework of a multidimensional one-step forward-looking model, a special category of rational expectations equilibria. Their support is infinite with two accumulation points (steady states); the stochastic motion of the system is of random-walk type. A general...