Advanced Search

Papers Articles Authors Institutions Data (FRED®)

Abstract

Este trabajo discute algunos desarrollos teóricos recientes sobre la determinación de la política macroeconómica óptima en situaciones en las que existen complementariedades estratégicas entre los agentes de la economía. Se presentan las ideas utilizando como base un modelo simple que permite capturar con simpleza los aspectos fundamentales involucrados en la discusión. En el modelo, los agentes deciden si participar, o no, en actividades de mercado y el beneficio de participar esta asociado con la decisión de participación del resto de los agentes. Se demuestra la presencia de equilibrios múltiples y se construyen equilibrios sunspot. Se discute la política macroeconómica óptima en tales situaciones y el rol de la estructura de información en la determinación de las propiedades de los equilibrios. Finalmente, se ilustra la posibilidad de que se produzcan avalanchas anticipadas de (no) participación, donde la diseminación limitada de la información juega un rol fundamental.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.depeco.econo.unlp.edu.ar/doctrab/doc54.pdf
Download Restriction: no

Bibliographic Info

Paper provided by Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata in its series Department of Economics, Working Papers with number 054.

as HTML HTML with abstract plain text plain text with abstract BibTeX RIS (EndNote, RefMan, ProCite) ReDIF in new window

Length: 25 pages
Date of creation: Aug 2005
Date of revision:
Handle: RePEc:lap:wpaper:054

Contact details of provider:
Postal: Calle 48 No555 - La Plata (1900)
Phone: 21- 1466
Fax: 54-21-25-9536
Web page: http://www.depeco.econo.unlp.edu.ar/doctrab.php
More information through EDIRC

Related research

Keywords:

References

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.:

as HTML HTML with abstract plain text plain text with abstract BibTeX RIS (EndNote, RefMan, ProCite) ReDIF in new window

1. Woodford, Michael, 1990. "Learning to Believe in Sunspots," Econometrica, Econometric Society, vol. 58(2), pages 277-307, March.
   
   • Woodford, Michael, 1986. "Learning to Believe in Sunspots," Working Papers 86-16, C.V. Starr Center for Applied Economics, New York University.
2. Robert G. King, 2006. "Discretionary policy and multiple equilibria," Economic Quarterly, Federal Reserve Bank of Richmond, issue Win, pages 1-15.
   
   • Robert G. King, 2006. "Discretionary Policy and Multiple Equilibria," NBER Working Papers 12076, National Bureau of Economic Research, Inc.
3. Caplin, Andrew & Leahy, John, 1994. "Business as Usual, Market Crashes, and Wisdom after the Fact," American Economic Review, American Economic Association, vol. 84(3), pages 548-65, June.
   
   • Caplin, A. & Leahy, J., 1992. "Business as Usual, Market Crashes, and Wisdom after the Fact," Harvard Institute of Economic Research Working Papers 1594, Harvard - Institute of Economic Research.
   • Caplin, A. & Leahy, J., 1992. "Business as Usual, Market Crashes and Wisdom After the Fact," Discussion Papers 1992_18, Columbia University, Department of Economics.
4. Andrés Rodríguez-Clare, 2005. "Coordination Failure, Clusters, and Microeconomic Interventions," Journal of LACEA Economia, LACEA - LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION.
   
   • Andrés Rodríguez-Clare, 2005. "Coordination Failures, Clusters and Microeconomic Interventions," Research Department Publications 4431, Inter-American Development Bank, Research Department.
5. Ennis, Huberto M. & Keister, Todd, 2003. "Economic growth, liquidity, and bank runs," Journal of Economic Theory, Elsevier, vol. 109(2), pages 220-245, April.
   
   • Huberto M. Ennis & Todd Keister, 2003. "Economic growth, liquidity, and bank runs," Working Paper 03-01, Federal Reserve Bank of Richmond.
6. Diamond, Peter A, 1982. "Aggregate Demand Management in Search Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 881-94, October.
   
   • P. Diamond, 1980. "Aggregate Demand Management in Search Equilibrium," Working papers 268, Massachusetts Institute of Technology (MIT), Department of Economics.
7. Todd Keister, 2006. "Expectations and Contagion in Self-fulfilling Currency Attacks," 2006 Meeting Papers 485, Society for Economic Dynamics.
   
   • Todd Keister, 2009. "Expectations And Contagion In Self-Fulfilling Currency Attacks," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 50(3), pages 991-1012, 08.
   • Todd Keister, 2006. "Expectations and contagion in self-fulfilling currency attacks," Staff Reports 249, Federal Reserve Bank of New York.
   • Tood Keister, 2005. "Expectations and Contagion in Self-Fulfilling Currency Attacks," Working Papers 0501, Centro de Investigacion Economica, ITAM.
8. Manuelli, Rodolfo & Peck, James, 1992. "Sunspot-like effects of random endowments," Journal of Economic Dynamics and Control, Elsevier, vol. 16(2), pages 193-206, April.
9. Huberto M. Ennis & Todd Keister, 2003. "Government Policy and the Probability of Coordination Failures," Working Papers 0301, Centro de Investigacion Economica, ITAM.
   
   • Ennis, Huberto M. & Keister, Todd, 2005. "Government policy and the probability of coordination failures," European Economic Review, Elsevier, vol. 49(4), pages 939-973, May.
10. Chari, V V & Kehoe, Patrick J, 1990. "Sustainable Plans," Journal of Political Economy, University of Chicago Press, vol. 98(4), pages 783-802, August.
    
    • V. V. Chari & Patrick J Kehoe, 1998. "Sustainable Plans," Levine's Working Paper Archive 600, David K. Levine.
    • V.V. Chari & Patrick J. Kehoe, 1989. "Sustainable plans," Staff Report 122, Federal Reserve Bank of Minneapolis.
11. Bassetto, Marco, 2005. "Equilibrium and government commitment," Journal of Economic Theory, Elsevier, vol. 124(1), pages 79-105, September.
    
    • Marco Bassetto, 2002. "Equilibrium and government commitment," Working Papers 624, Federal Reserve Bank of Minneapolis.
12. Ennis, Huberto M. & Keister, Todd, 2005. "Optimal fiscal policy under multiple equilibria," Journal of Monetary Economics, Elsevier, vol. 52(8), pages 1359-1377, November.
13. repec:aea:jeclit:v:43:y:2005:i:2:p:437-479 is not listed on IDEAS
14. Cass, David & Shell, Karl, 1983. "Do Sunspots Matter?," Journal of Political Economy, University of Chicago Press, vol. 91(2), pages 193-227, April.
15. Howitt, Peter & McAfee, R Preston, 1992. "Animal Spirits," American Economic Review, American Economic Association, vol. 82(3), pages 493-507, June.
    
    • Howitt, P. & Mcfee, R.P., 1990. "Animal Spirits," UWO Department of Economics Working Papers 9005, University of Western Ontario, Department of Economics.
16. Curtis R. Taylor & Thomas D. Jeitschko, 2001. "Local Discouragement and Global Collapse: A Theory of Coordination Avalanches," American Economic Review, American Economic Association, vol. 91(1), pages 208-224, March.
17. Glomm, Gerhard & Ravikumar, B., 1996. "Endogenous public policy and multiple equilibria," European Journal of Political Economy, Elsevier, vol. 11(4), pages 653-662, April.

Full references (including those not matched with items on IDEAS)

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:lap:wpaper:054

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Diego Fernandez Felices).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

---

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.

Privacy Legal