Stable Sunspot Solutions in Models with Predetermined Variables

Show simple item record Evans, George W., 1949- McGough, Bruce 2003-08-15T21:11:27Z 2003-08-15T21:11:27Z 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
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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

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