Similar Search Results

Xiao, Wei - In: Contributions in Macroeconomics 4 (2004) 1

Abstract In this paper we use a modified neoclassical business cycle model to test two competing explanations of the expansion of the 1990s. The model can have indeterminate, multiple equilibria that give rise to expectation-driven business cycles. We fit into the model series of estimated...

Persistent link: https://www.econbiz.de/10014588447

The Evolution of Open Source Communities

Gutsche, Joerg - In: The B.E. Journal of Economic Analysis & Policy 5 (2005) 1

Abstract A growing body of literature has succeeded in explaining the economics of existing open source communities. However, the question why such communities come into existence has so far not been answered satisfactorily. This paper addresses this question with an evolutionary model: software...

Persistent link: https://www.econbiz.de/10014586842

Equilibrium Selection in Network Coordination Games: An Experimental Study

Frey, Vincenz; Corten, Rense; Buskens, Vincent - In: Review of Network Economics 11 (2012) 3

Abstract We experimentally study equilibrium selection in repeated coordination games played on networks. We test predictions from three competing theories. In line with payoff-dominance as a deductive selection principle, experienced subjects coordinate on the payoff-dominant (but...

Persistent link: https://www.econbiz.de/10014618822

Indeterminacy, Stabilization Policy and Returns to Scale: A Re-Investigation

Sim, Nicholas C. S. - In: Topics in Macroeconomics 5 (2005) 1

separate model economies by which indeterminacy occurs for empirically plausible specification of the model parameters. In the …

Persistent link: https://www.econbiz.de/10014588455

On Impossibility of Limit Cycles in Certain Two-Dimensional Continuous-Time Growth Mode

Slobodyan, Sergey - In: Studies in Nonlinear Dynamics & Econometrics 5 (2001) 1

This article proves that periodic trajectories are generically impossible in a class of continuous-time growth models that allow a locally indeterminate steady state. Those models reducible to the two-dimensional Lotka-Volterra system of equations constitute the class considered here. Knowledge...

Persistent link: https://www.econbiz.de/10014620840

The indeterminacy of a flexible exchange rate system when financial markets are dormant

McPherson, Sandra; Suliman, Osman; Sweidan, Osama - In: Competitiveness Review: An International Business Journal 22 (2012) 1, pp. 8-17

Purpose – The purpose of this paper is to examine the extent to which a flexible exchange rate system is able to function given a least developed economy where financial markets are inactive and economic growth is low. Design/methodology/approach – A theoretical general equilibrium model is...

Persistent link: https://www.econbiz.de/10014702269

Indeterminacy and the Stability Puzzle in Non-Convex Economies

Evans, George W; McGough, Bruce - In: Topics in Macroeconomics 5 (2005) 1

sunspots exist, and under another information assumption, that they exist only for a very small part of the indeterminacy … bivariate reduced form contains parameter regions in which sunspots are stable under learning. However, for parameters … restricted to those generated by standard models of indeterminacy, we find, under one information assumption, that no stable …

Persistent link: https://www.econbiz.de/10014588457

A Herding Perspective on Global Games and Multiplicity

Costain, James S - In: The B.E. Journal of Theoretical Economics 7 (2007) 1

Recently, it has been claimed that full-information multiple equilibria in games with strategic complementarities are not robust, because generalizing to allow slightly heterogeneous information implies uniqueness. This paper argues that this "global games" uniqueness result is itself not...

Persistent link: https://www.econbiz.de/10014589094

Sunspot Rational Beliefs Structures, Equilibria and Excess Volatility

Nielsen, Carsten K - In: The B.E. Journal of Theoretical Economics 7 (2007) 1

RB in general equilibrium models. Individual rational beliefs are assumed correlated by means of sunspots which at the …

Persistent link: https://www.econbiz.de/10014589121