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Stability under Learning: the Neo-Classical Growth Problem

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Author Info
Orlando Gomes () (Instituto Politécnico de Lisboa - Escola Superior de Comunicação Social and UNIDE-ERC)

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Abstract

A local stability condition for the standard neo-classical Ramsey growth model is derived. The proposed setting is deterministic, defined in discrete time and expectations are formed through adaptive learning.

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File URL: http://erc.unide.iscte.pt/wpi/ERCwp1108.pdf
File Format: application/pdf
File Function: First version, 2008
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Publisher Info
Paper provided by ISCTE, UNIDE, Economics Research Centre in its series Working Papers with number ercwp1108.

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Length: 9 pages
Date of creation: May 2008
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Handle: RePEc:isc:wpaper:ercwp1108

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Related research
Keywords: Neo-classical Growth; Adaptive Learning; Stability Analysis; Monetary Policy.;

Find related papers by JEL classification:
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
C62 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Existence and Stability Conditions of Equilibrium
D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Cellarier, Laurent, 2006. "Constant gain learning and business cycles," Journal of Macroeconomics, Elsevier, vol. 28(1), pages 51-85, March. [Downloadable!] (restricted)
  2. Sorger, Gerhard, 1998. "Imperfect foresight and chaos: an example of a self-fulfilling mistake," Journal of Economic Behavior & Organization, Elsevier, vol. 33(3-4), pages 363-383, January. [Downloadable!] (restricted)
  3. Albert Marcet & Klaus Adam & Juan Pablo Nicolini, 2008. "Stock Market Volatility and Learning," UFAE and IAE Working Papers 732.08, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC). [Downloadable!]
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  4. Schonhofer, Martin, 1999. "Chaotic Learning Equilibria," Journal of Economic Theory, Elsevier, vol. 89(1), pages 1-20, November. [Downloadable!] (restricted)
  5. Bullard James, 1994. "Learning Equilibria," Journal of Economic Theory, Elsevier, vol. 64(2), pages 468-485, December. [Downloadable!] (restricted)
    Other versions:
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This page was last updated on 2009-11-26.

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