Apprentissage et équilibres à taches solaires. Un point de vue divinatoire
AbstractIn a simple OLG model, we analyze expectations coordination on a Stationary Sunspot Equilibrium (SSE), using an ??eductive? approach in which agents forecast the forecasting of other participants through Common Knowledge assumptions. We characterize the local stability of a SSE in terms of labor supply elasticity, and we give two results of existence of locally stable SSE by means both of Poincaré-Hopf Theorem and a local bifurcation argument. Classification JEL : D84, D90, E37
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Bibliographic InfoArticle provided by Presses de Sciences-Po in its journal Revue économique.
Volume (Year): 52 (2001)
Issue (Month): 3 ()
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Other versions of this item:
- Gabriel Desgranges & Giorgio Negroni, 2001. "Apprentissage et équilibres à taches solaires. Un point de vue divinatoire," Revue Économique, Programme National Persée, vol. 52(3), pages 583-593.
- D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
- D90 - Microeconomics - - Intertemporal Choice - - - General
- E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
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