Evans, George W., 1949-; Honkapohja, Seppo, 1951-
(University of Oregon, Dept. of Economics, 2002-04-06)
We examine the nonlinear model x_t = E_t F(x_(t+1)). Markov SSEs exist near an indeterminate steady state, hat(x)=F(hat(x)), provided |F'(hat(x)| > 1. Despite the importance of indeterminancy in macroeconomics, earlier ...