Stable Sunspot Solutions in Models with Predetermined Variables
| dc.contributor.author | Evans, George W., 1949- | |
| dc.contributor.author | McGough, Bruce | |
| dc.date.accessioned | 2003-08-15T21:11:27Z | |
| dc.date.available | 2003-08-15T21:11:27Z | |
| dc.date.issued | 2002-04-17 | |
| dc.description.abstract | We consider a linear stochastic univariate rational expectations model, with a predetermined variable, and provide alternative representations of SSEs (stationary sunspot equilibria). For a strict subset of the parameter space there exist SSEs that are locally stable under least squares learning provided agents use a common factor representation for their estimated law of motion. These results indicate that for some parameter regions SSEs are more likely to arise under private agent learning than previously recognized. | en |
| dc.format.extent | 529408 bytes | |
| dc.format.mimetype | application/pdf | |
| dc.identifier.uri | https://hdl.handle.net/1794/100 | |
| dc.language.iso | en_US | |
| dc.publisher | University of Oregon, Dept. of Economics | en |
| dc.relation.ispartofseries | University of Oregon Economics Department Working Papers;2002-16 | |
| dc.subject | Economics | en |
| dc.subject | Sunspots | en |
| dc.title | Stable Sunspot Solutions in Models with Predetermined Variables | en |
| dc.type | Working Paper | en |