Sunspot Fluctuations Around a Steady State: The Case of Multidimensional One-Step Forward Looking Economic Models

DOI10.2307/2951540zbMath0765.90021OpenAlexW2057444801MaRDI QIDQ4016225

Pierre-Yves Geoffard, Roger Guesnerie, Pierre-André Chiappori

Publication date: 9 December 1992

Published in: Econometrica (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.2307/2951540

zbMATH Keywords

rational expectations steady state bifurcation theory existence of stationary sunspot equilibria continuum of perfect foresight paths

Mathematics Subject Classification ID

Economic growth models (91B62)

Related Items (13)

Determinacy in linear rational expectations models ⋮ Statistical equilibrium in one-step forward looking economic models ⋮ Local sunspot equilibria reconsidered ⋮ Functional sunspot equilibria ⋮ Computational economics and economic theory: Substitutes or complements? ⋮ Refinement of dynamic equilibrium using small random perturbations ⋮ Existence of adaptively stable sunspot equilibria near an indeterminate steady state. ⋮ Expectational stability of stationary sunspot equilibria in a forward-looking linear model ⋮ Theoretical tests of the rational expectations hypothesis in economic dynamical models ⋮ Growth dynamics and returns to scale: Bifurcation analysis ⋮ Do complementary factors lead to economic fluctuations? ⋮ Time and uncertainty in overlapping generations economies ⋮ Cycles and sunspots: The Poincaré-Hopf approach

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