Download or read book Existence of Adaptively Stable Sunspot Equilibria Near an Indeterminate Steady State written by George W. Evans and published by . This book was released on 2001 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Existence of Adaptively Stable Sunspot Equilibria Near an Indeterminate Steady State written by and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Existence of Adaptive Stable Sunspot Equilibria Near an Indeterminate Steady State written by George W. Evans and published by . This book was released on 2001 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Stable sunspot equilibria in a cash in advance economy written by George W. Evans and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Are Non fundamental Equilibria Learnable in Models of Monetary Policy written by Seppo Honkapohja and published by . This book was released on 2001 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Dynamic Determinacy and the Existence of Sunspot Equilibria written by John Laitner and published by . This book was released on 1987 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper relates the existence of stationary sunspot equilibria in the vicinity of a conventional stationary state to the phase diagram surrounding the latter. We find that the local condition required for a unique equilibrium path returning to the stationary state following any slight disturbance of initial conditions is also sufficient to exclude stationary sunspot equilibria in the stationary state's immediate vicinity. In that sense, an eigenvalue condition familiar from dynamic analysis can tell us something about the possibilities of local sunspot activity as well.

Download or read book Journal of Economic Theory written by Karl Shell and published by . This book was released on 2002 with total page 1098 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Sunspot Fluctuations in Dynamics with Predetermined Variables written by Julio Davila and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, I study the existence of Sunspot Equilibria in a general framework whose dynamics allow for the presence of predetermined variables in the system. The main motivation for this research comes from the fact that previous studies did not allow for such predetermined variables which, nevertheless, appear quite naturally in economic models. I show, for a non-negligible subset of dynamics with predetermined variables verifying usual assumptions, the existence of Stationary Sunspot Equilibria fluctuating between an arbitrary finite number of states arbitrarily close to a steady state.

Download or read book Mathematical Reviews written by and published by . This book was released on 2004 with total page 1770 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Learning and Expectations in Macroeconomics written by George W. Evans and published by Princeton University Press. This book was released on 2012-01-06 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: A crucial challenge for economists is figuring out how people interpret the world and form expectations that will likely influence their economic activity. Inflation, asset prices, exchange rates, investment, and consumption are just some of the economic variables that are largely explained by expectations. Here George Evans and Seppo Honkapohja bring new explanatory power to a variety of expectation formation models by focusing on the learning factor. Whereas the rational expectations paradigm offers the prevailing method to determining expectations, it assumes very theoretical knowledge on the part of economic actors. Evans and Honkapohja contribute to a growing body of research positing that households and firms learn by making forecasts using observed data, updating their forecast rules over time in response to errors. This book is the first systematic development of the new statistical learning approach. Depending on the particular economic structure, the economy may converge to a standard rational-expectations or a "rational bubble" solution, or exhibit persistent learning dynamics. The learning approach also provides tools to assess the importance of new models with expectational indeterminacy, in which expectations are an independent cause of macroeconomic fluctuations. Moreover, learning dynamics provide a theory for the evolution of expectations and selection between alternative equilibria, with implications for business cycles, asset price volatility, and policy. This book provides an authoritative treatment of this emerging field, developing the analytical techniques in detail and using them to synthesize and extend existing research.

Download or read book On the Local Stability of Sunspot Equilibria Under Adaptive Learning Rules written by George W. Evans and published by . This book was released on 1992 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Growth Cycles written by George W. Evans and published by . This book was released on 1996 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: We construct a rational expectations model in which aggregate growth alternates between a low growth and a high growth state. When all agents expect growth to be slow, the returns on investment are low, and little investment takes place. This slows growth and confirms the prediction that the returns on investment will be low. But if agents expect fast growth, investment is high, returns are high, and growth is rapid. This expectational indeterminacy is induced by complementarity between different types of capital goods. In a growth cycle there are stochastic shifts between high and low growth states and agents take full account of these transitions. The rules that agents need to form rational expectations in this equilibrium are simple. The equilibrium with growth cycles is stable under the dynamics implied by a correspondingly simple learning rule.

Download or read book The Macroeconomics of Self fulfilling Prophecies written by Roger E. A. Farmer and published by MIT Press. This book was released on 1999 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: Farmer argues for the future of macroeconomics as a branch ofapplied general equilibrium theory. His main theme is thatmacroeconomics is best viewed as the study of equilibrium environmentsin which the welfare theorems break down.

Download or read book Business Cycles and Financial Crises written by A. W. Mullineux and published by Bookboon. This book was released on 1990 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Aanwinsten van de Centrale Bibliotheek Queteletfonds written by Bibliothèque centrale (Fonds Quetelet) and published by . This book was released on 2003 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Handbook of Mathematical Economics Historical introduction Mathematical methods in economics written by Kenneth Joseph Arrow and published by . This book was released on 1981 with total page 788 pages. Available in PDF, EPUB and Kindle. Book excerpt: V.1. Historical introduction. v.2. Mathematical approaches to microeconomic the ory. v.3. Mathematical approaches to welfare economics.

Download or read book Decisions Games and Markets written by Pierpaolo Battigalli and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: Decisions, Games and Markets is designed to stimulate new developments in decision theory, game theory and general equilibrium theory, as well as in their applications to economics. The book is divided into three parts - Decision Theory, Game Theory, and the Theory of Markets. Though its orientation is primarily methodological, some articles are more applied. The consistent use of formal analysis and methodological individualism constitutes the unifying theme of the book. Decisions, Games and Markets will be of considerable interest to both students and teachers of microeconomics and game and decision theory.