Determinacy and Stability Under Learning of Rational Expectations Equilibria

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Determinacy and Stability Under Learning of Rational Expectations Equilibria

Author Info

Gauthier, S.

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Stephane Gauthier

Abstract

This paper studies relationships between the 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 economies where agents forecast only one perods ahead, and with an arbitrary (fixed) number of predetermined variables.

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Publisher Info
Paper provided by Universite Aix-Marseille III in its series G.R.E.Q.A.M. with number 99a46.

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Length: 19 pages
Date of creation: 1999
Date of revision:
Handle: RePEc:fth:aixmeq:99a46

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Other versions of this item:

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," DELTA Working Papers 1999-22, DELTA (Ecole normale supérieure).

Find related papers by JEL classification:
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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Seonghoon Cho & Antonio Moreno, 2006. "Expectational Stability in Multivariate Models," Faculty Working Papers WP06/08, School of Economics and Business Administration, University of Navarra. [Downloadable!]
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George W. Evans & Roger Guesnerie, 2003. "Coordination on Saddle-Path Solutions: The Eductive Viewpoint -- Linear Multivariate Models," University of Oregon Economics Department Working Papers 2003-28, University of Oregon Economics Department, revised 25 Jan 2005. [Downloadable!]
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repec:bep:maccon:v:4:y:2004:i:1:p:1197-1197 is not listed on IDEAS

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