Economic Dynamics with Learning: New Stability Results
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Publication:3839968
DOI10.1111/1467-937X.00034zbMath0909.90065MaRDI QIDQ3839968
George W. Evans, Seppo Honkapohja
Publication date: 10 August 1998
Published in: Review of Economic Studies (Search for Journal in Brave)
multiple equilibrialearninglocal stabilityrational expectationsconvergence of recursive, stochastic algorithms
Related Items (16)
Learning in linear models with expectational leads ⋮ An approximation of the distribution of learning estimates in macroeconomic models ⋮ Global stability in spite of local instability with learning ⋮ Heterogeneous beliefs and the non-linear cobweb model ⋮ Exponentially fading memory learning in forward-looking economic models. ⋮ A MODEL OF NEAR-RATIONAL EXUBERANCE ⋮ Subjective temporary equilibrium ⋮ Policy change and learning in the RBC model ⋮ Liquidity traps and expectation dynamics: fiscal stimulus or fiscal austerity? ⋮ POLICY INTERACTION, LEARNING, AND THE FISCAL THEORY OF PRICES ⋮ LEARNING THE INFLATION TARGET ⋮ Heterogeneous beliefs and routes to chaos in a simple asset pricing model ⋮ Stochastic gradient learning in the cobweb model ⋮ MONETARY POLICY OVER TIME ⋮ Convergence of learning algorithms without a projection facility ⋮ Coordination on saddle-path solutions: the eductive viewpoint -- linear multivariate models
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