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From the "three-goods" macroeconomic model to the" (n+2)-goods" model : an Exploration of the Robustness of the Analysis of Expectational Eductive Coordination

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  • Guesnerie, R.

Abstract

The paper analyses the robustness of the conclusions previously obtained showing that, in a simple three-goods model, the success of "eductive" expectational coordination relates with low supply elasticity, high demand elasticity, and high marginal propensity to consume (or high "elementary keynesian multiplier"). In a more general context, similar generalized factors have analogous qualitative effects, although new factors (heteroneity of beliefs) appear. Also, the positive coordination effects of the income effect, through the keynesian multiplier action, is now less powerful.

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Bibliographic Info

Paper provided by DELTA (Ecole normale supérieure) in its series DELTA Working Papers with number 2000-22.

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Length: 21 pages
Date of creation: 2000
Date of revision:
Publication status: Published in Economic Essays, a Festschrift for Werner Hildenbrand, G. Debreu, W. Neuefeind, W. Trockel, editors, pp. 141-158, Springer, 2001.version abégée de Delta working paper 2000-22
Handle: RePEc:del:abcdef:2000-22

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Keywords: ECONOMIC MODELS ; MATHEMATICAL ANALYSIS ; INCOME ; SUPPLY ; DEMAND;

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