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parameters, and in particular those assigning values of imperfections in the economy, the economy may be driven by sunspots at … some frequencies while sunspots can have no impact at other frequencies. …
Persistent link: https://www.econbiz.de/10010293732
some frequencies while sunspots can have no impact at other frequencies. -- sunspots ; indeterminacy ; high frequency … parameters, and in particular those assigning values of imperfections in the economy, the economy may be driven by sunspots at …
Persistent link: https://www.econbiz.de/10009728989
Persistent link: https://www.econbiz.de/10001973985
This paper demonstrates the existence of a finite set of equilibria in the case of the indeterminacy of linear rational … eigenvectors related to stable eigenvalues. A finite set of equilibria is a substitute to continuous (uncountable) sets of sunspots …
Persistent link: https://www.econbiz.de/10011525764
This paper demonstrates the existence of a finite set of equilibria in the case of the indeterminacy of linear rational … eigenvectors related to stable eigenvalues. A finite set of equilibria is a substitute to continuous (uncountable) sets of sunspots …
Persistent link: https://www.econbiz.de/10010378075
This paper demonstrates the existence of a finite set of equilibria in the case of the indeterminacy of linear rational … eigenvectors related to stable eigenvalues. A finite set of equilibria is a substitute to continuous (uncountable) sets of sunspots …
Persistent link: https://www.econbiz.de/10010957782
This paper demonstates the existence of a finite set of equilibria in the case of the indeterminacy of linear rational … eigenvectors related to stable eigenvalues. A finite set of equilibria is a substitute to continuous (uncountable) sets of sunspots …
Persistent link: https://www.econbiz.de/10010812336
Abstract: The partial information rational expectations solution to a general linear multivariate expectational macro-model is found when agents are uncertain about the true values of the model’s parameters. Necessary and sufficient conditions for convergence to the full information rational...
Persistent link: https://www.econbiz.de/10005837039
This paper demonstates the existence of a finite set of equilibria in the case of the indeterminacy of linear rational … eigenvectors related to stable eigenvalues. A finite set of equilibria is a substitute to continuous (uncountable) sets of sunspots …
Persistent link: https://www.econbiz.de/10011112237
increase the likelihood of indeterminacy. Payment of imported foreign factors of production may act as a semi-fixed cost …
Persistent link: https://www.econbiz.de/10005827123