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Browsing Evans, George W. by Subject "Sunspots"
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Now showing items 1-6 of 6
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(University of Oregon, Dept. of Economics, 2002-07-25)We extend common factor analysis to a multi-dimensional setting by considering a bivariate reduced form consistent with many Real Business Cycle type models. We show how to obtain new representations of sunspots and find ...
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(University of Oregon, Dept of Economics, 2008-07-11)Expectations play a central role in modern macroeconomic theories. The econometric learning approach models economic agents as forming expectations by estimating and updating forecasting models in real time. The learning ...
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(University of Oregon, Dept. of Economics, 2004-03-29)We examine existence and stability under learning of sunspot equilibria in a New Keynesian model incorporating inertia. Indeterminacy remains prevalent, stable sunspots abound, and inertia in IS and AS relations do not ...
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(University of Oregon, Dept of Economics, 2007-01-01)By endowing his agents with simple forecasting models, or representations, Woodford (1990) found that finite state Markov sunspot equilibria may be stable under learning. We show that common factor representations ...
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(University of Oregon, Dept. of Economics, 2002-07-18)We consider a linear stochastic univariate rational expectations model, with a predetermined variable, and consider solutions driven by an extraneous finite state Markov process as well as by the fundamental noise. We ...
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(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 ...
Now showing items 1-6 of 6