Big shocks versus small shocks in a dynamic stochastic economy with many interacting agents

DOI10.1016/0165-1889(94)90015-9zbMath0875.90082OpenAlexW2023301322MaRDI QIDQ5894577

Morgan Kelly

Publication date: 27 February 1997

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

Full work available at URL: https://doi.org/10.1016/0165-1889(94)90015-9

zbMATH Keywords

Coordination failureProduction shocks

Mathematics Subject Classification ID

Economic time series analysis (91B84) Economic growth models (91B62) Stochastic systems in control theory (general) (93E03)

Cites Work

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• Random Perturbations of Dynamical Systems
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• Multiple Expectational Equilibria under Monopolistic Competition
• Time to Build and Aggregate Fluctuations
• The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis
• Learning, Mutation, and Long Run Equilibria in Games

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