Showing 1 - 2 of 2
This paper studies the dynamic volatility properties of a monetary economy in which agents hold Rational Beliefs (see Kurz (1994), (1997)) rather than Rational Expectations. Except for this feature the examined Rational Belief Equilibrium (in short, RBE) is entirely standard: markets are...
Persistent link: https://www.econbiz.de/10011596212
Persistent link: https://www.econbiz.de/10011775642