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On the existence of sunspot equilibria in an overlapping generations model

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  • Peck, James

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  • Peck, James, 1988. "On the existence of sunspot equilibria in an overlapping generations model," Journal of Economic Theory, Elsevier, vol. 44(1), pages 19-42, February.
    • Handle: RePEc:eee:jetheo:v:44:y:1988:i:1:p:19-42
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    1. Gale, David, 1973. "Pure exchange equilibrium of dynamic economic models," Journal of Economic Theory, Elsevier, vol. 6(1), pages 12-36, February.
    2. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66(6), pages 467-467.
    3. Aumann, Robert J., 1974. "Subjectivity and correlation in randomized strategies," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 67-96, March.
    4. Balasko, Yves & Shell, Karl, 1980. "The overlapping-generations model, I: The case of pure exchange without money," Journal of Economic Theory, Elsevier, vol. 23(3), pages 281-306, December.
    5. Cass, David & Okuno, Masahiro & Zilcha, Itzhak, 1979. "The role of money in supporting the pareto optimality of competitive equilibrium in consumption-loan type models," Journal of Economic Theory, Elsevier, vol. 20(1), pages 41-80, February.
    6. K. Shell & M. Sidrauski & J. E. Stiglitz, 1969. "Capital Gains, Income, and Saving," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 36(1), pages 15-26.
    7. Shell, Karl, 1971. "Notes on the Economics of Infinity," Journal of Political Economy, University of Chicago Press, vol. 79(5), pages 1002-1011, Sept.-Oct.
    8. Balasko, Yves, 1983. "Extrinsic uncertainty revisited," Journal of Economic Theory, Elsevier, vol. 31(2), pages 203-210, December.
    9. Balasko, Yves & Shell, Karl, 1981. "The overlapping-generations model. II. The case of pure exchange with money," Journal of Economic Theory, Elsevier, vol. 24(1), pages 112-142, February.
    10. Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
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    Cited by:

    1. Huo, T. -M., 1996. "Monetary confidence and asset prices," International Review of Economics & Finance, Elsevier, vol. 5(4), pages 363-376.
    2. Davila, Julio, 2001. "Time and Uncertainty in Overlapping Generations Economies," Journal of Economic Theory, Elsevier, vol. 100(2), pages 356-386, October.
    3. Asen Ivanov & Dan Levin & James Peck, 2010. "Behavioral Biases, Informational Externalities, and Efficiency in Endogenous-Timing Herding Games: an Experimental Study," Working Papers 1004, VCU School of Business, Department of Economics.
    4. Kiminori Matsuyama, 1989. "Serial Correlation of Sunspot Equilibria (Rational Bubbles) in Two Popular Models of Monetary Economies," Discussion Papers 827, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    5. Lagos, Ricardo & Wright, Randall, 2003. "Dynamics, cycles, and sunspot equilibria in 'genuinely dynamic, fundamentally disaggregative' models of money," Journal of Economic Theory, Elsevier, vol. 109(2), pages 156-171, April.
    6. Julio Dávila, 2008. "The rationality of expectations formation and excess volatility," Documents de travail du Centre d'Economie de la Sorbonne b08019, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    7. Chatterji, Shurojit & Chattopadhyay, Subir, 2006. "Functional sunspot equilibria," Journal of Mathematical Economics, Elsevier, vol. 42(1), pages 22-35, February.
    8. Maldonado, Wilfredo Leiva, 2000. "Cycles, Steady States and Sunspot Equilibrium in Models with Memory," Brazilian Review of Econometrics, Sociedade Brasileira de Econometria - SBE, vol. 20(2), November.
    9. Bertocchi, Graziella & Kehagias, Athanasios, 1995. "Efficiency and optimality in stochastic models with production," Journal of Economic Dynamics and Control, Elsevier, vol. 19(1-2), pages 303-325.
    10. Mauro Bambi & Sara Eugeni, 2021. "Nominal exchange rate determination and dynamics in an OLG framework," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 72(1), pages 93-132, July.
    11. Bhattacharya, Joydeep & Russell, Steven, 2003. "Two-period cycles in a three-period overlapping generations model," Journal of Economic Theory, Elsevier, vol. 109(2), pages 378-401, April.
    12. Kehoe, Timothy J. & Levine, David K., 1990. "The economics of indeterminacy in overlapping generations models," Journal of Public Economics, Elsevier, vol. 42(2), pages 219-243, July.
    13. Chiappori, P. A. & Davila, J., 1996. "Cycles and sunspot: The Poincare-Hopf approach," Journal of Mathematical Economics, Elsevier, vol. 26(3), pages 269-284.
    14. Shigoka, Tadashi, 1997. "On the nonstationary sunspot equilibria generated by an unbounded growth model," Japan and the World Economy, Elsevier, vol. 9(2), pages 261-277, May.
    15. Fukuda, Shin-ichi, 1998. "Sunspot equilibria and periodic cycles under idiosyncratic uncertainty," Journal of Economic Behavior & Organization, Elsevier, vol. 36(1), pages 127-138, July.
    16. Russell, Steven, 1997. ""Quasifundamental" Variation in the Price Level and the Inflation Rate," Journal of Economic Theory, Elsevier, vol. 74(1), pages 106-151, May.
    17. Subir Chattopadhyay, 1999. "- Information, Stabilization, And Welfare: The Case Of Sunspots," Working Papers. Serie AD 1999-02, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    18. Satyajit Chatterjee & Russell Cooper & B. Ravikumar, 1990. "Participation Dynamics: Sunspots and Cycles," NBER Working Papers 3438, National Bureau of Economic Research, Inc.
    19. Jackson Matthew O., 1994. "A Proof of the Existence of Speculative Equilibria," Journal of Economic Theory, Elsevier, vol. 64(1), pages 221-233, October.
    20. Aloisio Araujo & Wilfredo L. Maldonado & Diogo Pinheiro & Alberto A. Pinto & Mohammad Choubdar Soltanahmadi, 2021. "Refinement of dynamic equilibrium using small random perturbations," International Journal of Economic Theory, The International Society for Economic Theory, vol. 17(3), pages 258-283, September.
    21. Mauro Bambi & Sara Eugeni, 2018. "Exchange rates, sunspots and cycles," Department of Economics Working Papers 2018_05, Durham University, Department of Economics.

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