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We provide conditions for local stability and instability of an equilibrium point in certain systems of nonautonomous …
Persistent link: https://www.econbiz.de/10005371114
approximation based on an associated differential equation. Global stability, local stability and instability results for SRAs are … presented. For a wide range of solutions to economic models the stability conditions for REE under statistical learning rules … are given by the expectational stability principle, which is treated as a unifying principle for the results presented …
Persistent link: https://www.econbiz.de/10014024243
stability under learning. Appropriately designed expectations-based rules can yield optimal rational expectations equilibria …
Persistent link: https://www.econbiz.de/10005791392
stability under private agent learning. Appropriately designed expectations based rules can yield optimal rational expectations …
Persistent link: https://www.econbiz.de/10005561354
We consider "robust stability" of a rational expectations equilibrium, which we define as stability under discounted … exhibit robust stability. We consider a variety of interest-rate rules, including instrument rules, optimal reaction functions … Honkapohja (2003, 2006) deliver robust learning stability. In contrast, many proposed alternatives become unstable under learning …
Persistent link: https://www.econbiz.de/10005498187
stability under private agent learning. Appropriately designed expectations based rules can yield optimal rational expectations …
Persistent link: https://www.econbiz.de/10005593736
We consider “robust stability†of a rational expectations equilibrium, which we define as stability under discounted … exhibit robust stability. We consider a variety of interest-rate rules, including instrument rules, optimal reaction functions … Honkapohja (2003, 2006) deliver robust learning stability. In contrast, many proposed alternatives become unstable under learning …
Persistent link: https://www.econbiz.de/10005061488
stability under private agent learning.Appropriately designed expectations based rules can yield optimal rational expectations …
Persistent link: https://www.econbiz.de/10012147864
We consider the robust stability of a rational expectations equilibrium, which we define as stability under discounted … exhibit robust stability. We consider a variety of interest-rate rules, including instrument rules, optimal reaction functions … Honkapohja (2003, 2006) deliver robust learning stability. In contrast, many proposed alternatives become unstable under learning …
Persistent link: https://www.econbiz.de/10012148020
the key results for interest-rate rules that deliver both uniqueness and stability of equilibrium under econometric …
Persistent link: https://www.econbiz.de/10012148021