An Alternative Proof of the Theorem of Woodford on the Existence of a Sunspot Equilibrium in a Continuous-Time Model

DOI10.1007/978-981-10-1521-2_2zbMath1417.91334OpenAlexW2521598809MaRDI QIDQ4555245

Kazuo Nishimura, Tadashi Shigoka

Publication date: 19 November 2018

Published in: Essays in Economic Dynamics (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1007/978-981-10-1521-2_2

zbMATH Keywords

stochastic differential equationhomoclinic orbitclosed orbitstable manifolddeterministic model

Mathematics Subject Classification ID

Special types of economic equilibria (91B52) Stochastic ordinary differential equations (aspects of stochastic analysis) (60H10)

Cites Work

• Self-fulfilling prophecies
• A note on Woodford's conjecture: Constructing stationary sunspot equilibria in a continuous time model
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