Arbeitspapier
Existence of Adaptively Stable Sunspot Equilibria Near an Indeterminate Steady State
We examine the nonlinear model Xt = Et F(xt+1) . Markov SSEs exist near an indeterminate steady state, X = F(X), provided F´(X)> 1. We show that there exist Markov SSEs that are E-stable, and therefore locally stable under adaptive learning, if F´(X)< -1.
- Sprache
-
Englisch
- Erschienen in
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Series: CESifo Working Paper ; No. 478
- Klassifikation
-
Wirtschaft
- Thema
-
Indeterminacy
learnability
expectational stability
endogenous fluctuations
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Evans, George W.
Honkapohja, Seppo
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2001
- Handle
- Letzte Aktualisierung
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2025-03-10T11:45:14+0100
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Evans, George W.
- Honkapohja, Seppo
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2001
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