Determinacy and Stability under Learning of Rational Expectations Equilibria

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Determinacy and Stability under Learning of Rational Expectations Equilibria

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Gauthier, S.

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Stephane Gauthier

Abstract

This 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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Publisher Info
Paper provided by DELTA (Ecole normale supérieure) in its series DELTA Working Papers with number 1999-22.

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Length: 16 pages
Date of creation: 1999
Date of revision:
Publication status: Published in Journal of Economic, February 2002, 102, pp. 354-374.
Handle: RePEc:del:abcdef:1999-22

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Article
- Gauthier, Stephane, 2002. "Determinacy and Stability under Learning of Rational Expectations Equilibria," Journal of Economic Theory, Elsevier, vol. 102(2), pages 354-374, February. [Downloadable!] (restricted)
Paper
- Gauthier, S., 1999. "Determinacy and Stability Under Learning of Rational Expectations Equilibria," G.R.E.Q.A.M. 99a46, Universite Aix-Marseille III.

Find related papers by JEL classification:
D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information

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