Preprint
A finite set of equilibria for the indeterminacy of linear rational expectations models
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 finite set of equilibria is a substitute to continuous (uncountable) sets of sunspots equilibria, when the number of independent eigenvectors for each stable eigenvalue is equal to one.
- Language
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Englisch
- Classification
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Wirtschaft
Mathematical Methods; Programming Models; Mathematical and Simulation Modeling: General
Optimization Techniques; Programming Models; Dynamic Analysis
Existence and Stability Conditions of Equilibrium
General Aggregative Models: Neoclassical
Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General
- Subject
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linear rational expectations models
sunspots
indeterminacy
multiple equilibria
matrix Riccati equation
- Event
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Geistige Schöpfung
- (who)
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Chatelain, Jean-Bernard
Ralf, Kirsten
- Event
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Veröffentlichung
- (who)
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
- (where)
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Kiel und Hamburg
- (when)
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2014-07-25
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Preprint
Associated
- Chatelain, Jean-Bernard
- Ralf, Kirsten
- ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
Time of origin
- 2014-07-25
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