Are Stationary Hyperinflation Paths Learnable?

Simple item page
dc.contributor.authorAdam, Klaus
dc.contributor.authorEvans, George W., 1949-
dc.contributor.authorHonkapohja, Seppo, 1951-
dc.date.accessioned2003-12-15T18:52:18Z
dc.date.available2003-12-15T18:52:18Z
dc.date.issued2003-03-17
dc.description.abstractEarlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under adaptive learning. We reconsider this issue and analyze the full set of solutions for the linearized model. Our main focus is on stationary hyperinflationary paths near the high-inflation steady state. The hyperinflationary paths are stable under learning if agents can utilize contemporaneous data. However, in an economy populated by a mixture of agents, some of whom only have access to lagged data, stable inflationary paths emerge only if the proportion of agents with access to contemporaneous data is sufficiently high.en
dc.format.extent258,760 bytes
dc.format.mimetypeapplication/pdf
dc.identifier.urihttps://hdl.handle.net/1794/127
dc.language.isoen_US
dc.publisherUniversity of Oregon, Dept of Economicsen
dc.relation.ispartofseriesUniversity of Oregon Economics Department Working Papers;2003-31
dc.subjectMathematical and quantitative methodsen
dc.subjectMathematical methods and programmingen
dc.subjectExistence and stability conditions of equilibriumen
dc.subjectMicroeconomicsen
dc.subjectExpectationsen
dc.subjectMacroeconomics and monetary economicsen
dc.subjectInformation and uncertaintyen
dc.subjectSpeculationsen
dc.subjectSearch, learning, and informationen
dc.subjectPrices, business fluctuations, and cyclesen
dc.subjectPrice levelen
dc.subjectInflation (Finance)en
dc.subjectDeflation (Finance)en
dc.titleAre Stationary Hyperinflation Paths Learnable?en
dc.typeWorking Paperen

Files

Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
UO-2003-31_Evans_Stationary_Paths.pdf
Size:
252.7 KB
Format:
Adobe Portable Document Format
Download
License bundle
Now showing 1 - 1 of 1
Name:
license.txt
Size:
2.22 KB
Format:
Item-specific license agreed upon to submission
Description:
Download

Collections

Economics Working Papers
Evans, George W.