dc.contributor.author |
Evans, George W., 1949- |
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dc.contributor.author |
McGough, Bruce |
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dc.date.accessioned |
2003-08-15T21:11:27Z |
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dc.date.available |
2003-08-15T21:11:27Z |
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dc.date.issued |
2002-04-17 |
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dc.identifier.uri |
http://hdl.handle.net/1794/100 |
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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. |
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dc.format.extent |
529408 bytes |
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dc.format.mimetype |
application/pdf |
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dc.language.iso |
en_US |
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dc.publisher |
University of Oregon, Dept. of Economics |
en |
dc.relation.ispartofseries |
University of Oregon Economics Department Working Papers;2002-16 |
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dc.subject |
Economics |
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dc.subject |
Sunspots |
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dc.title |
Stable Sunspot Solutions in Models with Predetermined Variables |
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dc.type |
Working Paper |
en |