Jesús Vázquez - In: Studies in Nonlinear Dynamics & Econometrics 8 (2007) 1, pp. 1122-1122
Farmer (1991) suggests that in a model in which there are multiple rational expectations (RE) equilibria agents may find it useful to coordinate their expectations in a unique RE equilibrium which is immune to the Lucas Critique. In this paper, we evaluate Lucas proof (LP) equilibrium...