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 …