Expectational stability of sunspot equilibria in non-convex economies

DOI10.1016/j.jedc.2013.01.012zbMath1402.91308OpenAlexW2021359741WikidataQ58012720 ScholiaQ58012720MaRDI QIDQ1994244

Qinglai Meng, Jianpo Xue, Bruce McGough

Publication date: 1 November 2018

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jedc.2013.01.012

zbMATH Keywords

indeterminacypreferencesreal business cycle modelsexternalitiesexpectational stability

Mathematics Subject Classification ID

Economic growth models (91B62) Special types of economic markets (including Cournot, Bertrand) (91B54)

Related Items (2)

Learnability of an equilibrium with private information ⋮ Are sunspots learnable? An experimental investigation in a simple macroeconomic model

Cites Work

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• Self-fulfilling prophecies
• Stable sunspot solutions in models with predetermined variables
• Monetary policy, indeterminacy and learning
• E-stability vis-a-vis determinacy results for a broad class of linear rational expectations models
• Capacity utilization under increasing returns to scale
• Indeterminacy and increasing returns
• Real business cycles and the animal spirits hypothesis
• Learning equilibria
• On the minimum degree of returns to scale in sunspot models of the business cycle.
• Learning to Believe in Sunspots
• A Rational Route to Randomness

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