IDEAS home Printed from https://ideas.repec.org/h/pal/intecp/978-1-349-11570-9_6.html
   My bibliography  Save this book chapter

Cycles and Non-Stationary Equilibrium Search

In: Business Cycles

Author

Listed:
  • Chaim Fershtman

    (Tel Aviv University)

  • Arthur Fishman

    (Tel Aviv University)

Abstract

There has never been agreement among economists regarding the causes of cycles and fluctuations in economic activity. There can be little doubt that extraneous shocks to the economy are a major source of such fluctuations. Nevertheless, in our view, it is important to have models in which cyclic activity arises as an inherent property of the equilibrium interaction between economic agents at the micro level. More specifically, we would like to know if it is possible that despite the absence of any shocks, a stationary environment exhibits a non-stationary time-path as a consequence of the dynamic strategic interaction between the economic actors.

Suggested Citation

  • Chaim Fershtman & Arthur Fishman, 1991. "Cycles and Non-Stationary Equilibrium Search," International Economic Association Series, in: Niels Thygesen & Kumaraswamy Velupillai & Stefano Zambelli (ed.), Business Cycles, chapter 6, pages 135-153, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-11570-9_6
    DOI: 10.1007/978-1-349-11570-9_6
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:intecp:978-1-349-11570-9_6. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.