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Iancu, Aurel - 2011

characteristic of the three generations of models; 2. Models based on financial instability hypothesis, taking into account both the … dynamics of financial market as well as the role of uncertainty, interdependency and dynamic complexity. We present here Minsky …'s concept of financial instability and then analyse the content of some simplified models. …

Persistent link: https://www.econbiz.de/10010529077

Chapter 7 Learning dynamics

Evans, George W.; Honkapohja, Seppo - In: Handbook of macroeconomics : volume 1, part A, (pp. 449-542). 1999

approximation based on an associated differential equation. Global stability, local stability and instability results for SRAs are …

Persistent link: https://www.econbiz.de/10014024243

Indeterminacy of Ramsey Model Under Heterogeneous Time Preference, Transversality Condition Issues, Theories of Price Level and Uniform Rate of Interest

Kim, Bryce - 2016

This paper presents a simple Ramsey-type model example where two infinitely-living agents have same utility function except for time preference, and shows that equilibrium is indeterminate that is to be interpreted as being non-existent. The issues regarding New Keynesian transversality...

Persistent link: https://www.econbiz.de/10012982564

Robustly optimal monetary policy with near-rational expectations

Woodford, Michael - In: The American economic review 100 (2010) 1, pp. 274-303

Persistent link: https://www.econbiz.de/10008729179

Real and Financial Interacting Oscillators : A Behavioral Macro-Model with Animal Spirits

Naimzada, Ahmad Kabir - 2014

scenarios according to the stability/instability of the isolated financial and real markets. For each of those frameworks we … increasing the degree of interaction between the two markets. In particular, we find that the instability of the real market … seems to have stronger destabilizing effects than the instability of the financial market: in fact, the former gets …

Persistent link: https://www.econbiz.de/10013057536

Asset Price Anomalies Under Bounded Rationality

Barucci, Emilio - 2003

We analyze the classical asset pricing model assuming non fully rational agents. Agents forecast future prices cum dividend through an adaptive learning rule. This assumption provides an explanation of some anomalies encountered in the empirical analysis of asset prices under full rationality:...

Persistent link: https://www.econbiz.de/10012739669

On market economies : how controllable constructs become complex

Dominique, Charlemagne René; Rivera-Solis, Luis Eduardo - In: Expert journal of economics 2 (2014) 3, pp. 100-108

paper examines four such models of increasing complexity, including the affine nonlinear feedback H∞-control, to show that …

Persistent link: https://www.econbiz.de/10012062056

Business cycles in small, open economies : evidence from panel data between 1900 and 2013

Miyamoto, Wataru; Nguyen, Thuy Lan - 2016

Using a novel data set for 17 countries dating from 1900 to 2013, we characterize business cycles in both small developed and developing countries in a model with financial frictions and a common shock structure. We estimate the model jointly for these 17 countries using Bayesian methods. We...

Persistent link: https://www.econbiz.de/10011553776

Business cycles in small open economies : Evidence from panel data between 1900 and 2013

Miyamoto, Wataru - 2016

Using a novel data set for 17 countries between 1900 and 2013, we characterize business cycles in both small developed and developing countries in a model with financial frictions and a common shock structure. We estimate the model jointly for these 17 countries using Bayesian methods. We find...

Persistent link: https://www.econbiz.de/10013007955

A finite set of equilibria for the indeterminacy of linear rational expectations models

Chatelain, Jean-Bernard; Ralf, Kirsten - 2014

This paper demonstrates the existence of a finite set of equilibria in the case of the indeterminacy of linear rational expectations models. The number of equilibria corresponds to the number of ways to select n eigenvectors among a larger set of eigenvectors related to stable eigenvalues. A...

Persistent link: https://www.econbiz.de/10011525764

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