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Coordination Failure in Macroeconomics: An Overview

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  • John S. Irons

    (Center for American Progress)

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    Abstract

    Macroeconomic models incorporating multiple equilibriums are gaining popularity and seem to have a strong intuitive appeal. This paper explains the notion of coordination failure in macroeconomics and introduces the papers in this conference volume. It also addresses sunspot equilibrium theory and well as policy implications. The papers in this symposium represent a class of macroeconomic models that take the idea of multiple equilibriums seriously and attempt to assess the empirical validity of these models.

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    File URL: http://college.holycross.edu/RePEc/eej/Archive/Volume31/V31N1P46_54.pdf
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    Bibliographic Info

    Article provided by Eastern Economic Association in its journal Eastern Economic Journal.

    Volume (Year): 31 (2005)
    Issue (Month): 1 (Winter)
    Pages: 45-54

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    Handle: RePEc:eej:eeconj:v:31:y:2005:i:1:p:45-54

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    Web page: http://www.ramapo.edu/eea/journal.html
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    Related research

    Keywords: Equilibrium; Macroeconomic Model; Macroeconomics; Sunspot;

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