Now showing items 41-43 of 43

    • Stable Sunspot Equilibira in a Cash-in-Advance Economy 

      Evans, George W., 1949-; Honkapohja, Seppo, 1951-; Marimon, Ramon, 1953- (University of Oregon, Dept. of Economics, 2002-10-25)
      We develop a monetary model with flexible supply of labor, cash in advance constraints and government spending financed by seignorage. This model has two regimes. One regime is conventional with two steady states. The other ...
    • Stable Sunspot Solutions in Models with Predetermined Variables 

      Evans, George W., 1949-; McGough, Bruce (University of Oregon, Dept. of Economics, 2002-04-17)
      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 ...
    • Stagnation Regime of the New Keynesian Model and Current US Policy 

      Evans, George W., 1949- (University of Oregon, Dept of Economics, 2010-10-30)
      In Evans, Guse, and Honkapohja (2008) the intended steady state is locally but not globally stable under adaptive learning, and unstable deflationary paths can arise after large pessimistic shocks to expectations. In ...