Comparing expectational stability criteria in dynamical models: a preparatory overview
AbstractThis paper compares the most significant expectational stability criteria that have been used to assess the plausibility of perfect foresight trajectories in forward-looking dynamical systems: determinacy of trajectories, absence of neighbour sunspot trajectories, and convergence of "evolutive" and "eductive" learning processes. It examines, within a set of increasingly complex dynamical models, the robustness of an equivalence principle suggested by the analysis of the simplest classes of those models.
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Bibliographic InfoPaper provided by DELTA (Ecole normale supérieure) in its series DELTA Working Papers with number 2004-09.
Date of creation: 2004
Date of revision:
Other versions of this item:
- Stéphane Gauthier & Roger Guesnerie, 2005. "Comparing Expectational Stability Criteria in Dynamic Models: A Preparatory Overview," Post-Print hal-00731535, HAL.
- NEP-ALL-2004-06-22 (All new papers)
- NEP-DGE-2004-06-22 (Dynamic General Equilibrium)
- NEP-EVO-2004-06-22 (Evolutionary Economics)
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- Roger Guesnerie & Pedro Jara-Moroni, 2011. "Expectational coordination in simple economic contexts," Economic Theory, Springer, vol. 47(2), pages 205-246, June.
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