Browsing Economics Working Papers by Subject "Representations of solutions"

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Expectational Stability of Stationary Sunspot Equilibria in a Forward-looking Linear Model

Evans, George W., 1949-; Honkapohja, Seppo, 1951- (University of Oregon, Dept. of Economics, 2002-01-14)

We consider the stability under adaptive learning of the complete set of solutions to the model x_i=beta(Ei*)(x_i+1) when |beat| >1. In addition to the fundamentals solution, the literature describes both finite-state ...