Inflation expectations and macroeconomic dynamics: the case of rational versus extrapolative expectations

DOI10.1016/j.jedc.2009.09.004zbMath1182.91118OpenAlexW2152419635MaRDI QIDQ846516

Marji Lines, Frank H. Westerhoff

Publication date: 9 February 2010

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

Full work available at URL: https://doi.org/10.1016/j.jedc.2009.09.004

zbMATH Keywords

bifurcationsintermittencyheterogeneous expectationsexpectation formationdynamic macroeconomicsnonlinearities and chaosOkun's law and Phillips curve

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Economic dynamics (91B55) Heterogeneous agent models (91B69)

Related Items (8)

TECHNICAL ANALYSIS BASED ON PRICE-VOLUME SIGNALS AND THE POWER OF TRADING BREAKS ⋮ On the Concept of Endogenous Volatility ⋮ The heterogeneous expectations hypothesis: Some evidence from the lab ⋮ An agent-based macroeconomic model with interacting firms, socio-economic opinion formation and optimistic/pessimistic sales expectations ⋮ Necessary and sufficient conditions for the roots of a cubic polynomial and bifurcations of codimension-1, -2, -3 for 3D maps ⋮ Coexistence of equilibria in a New Keynesian model with heterogeneous beliefs ⋮ Complex dynamics associated with the appearance/disappearance of invariant closed curves ⋮ Monetary policy with a state-dependent inflation target in a behavioral two-country monetary union model

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