Determinacy and Stability under Learning of Rational Expectations Equilibria
AbstractThis paper studies relationships between the local determinacy of a stationary equilibrium in the perfect foresight dynamics, and its local stability in dynamics arising from econometric learning procedures. There is no clear links in linear scalar economieds where agents forecast only one period ahead, and with an arbitrary (fixed) number of predetermined variables.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 102 (2002)
Issue (Month): 2 (February)
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Web page: http://www.elsevier.com/locate/inca/622869
Other versions of this item:
- Gauthier, S., 1999. "Determinacy and Stability under Learning of Rational Expectations Equilibria," DELTA Working Papers 1999-22, DELTA (Ecole normale supérieure).
- Gauthier, S., 1999. "Determinacy and Stability Under Learning of Rational Expectations Equilibria," G.R.E.Q.A.M. 99a46, Universite Aix-Marseille III.
- Stéphane Gauthier, 2002. "Determinacy and Stability under Learning of Rational Expectations Equilibria," Post-Print hal-00731065, HAL.
- D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
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