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On Learning and the Nonuniqueness of Equilibrium in an Overlapping Generations Model with Fiat Money

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  • Duffy John

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  • Duffy John, 1994. "On Learning and the Nonuniqueness of Equilibrium in an Overlapping Generations Model with Fiat Money," Journal of Economic Theory, Elsevier, vol. 64(2), pages 541-553, December.
  • Handle: RePEc:eee:jetheo:v:64:y:1994:i:2:p:541-553
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    Cited by:

    1. Brock, William A. & de Fontnouvelle, Patrick, 2000. "Expectational diversity in monetary economies," Journal of Economic Dynamics and Control, Elsevier, vol. 24(5-7), pages 725-759, June.
    2. Atanas Christev, 2006. "Learning Hyperinflations," Computing in Economics and Finance 2006 475, Society for Computational Economics.
    3. Evans George W & Honkapohja Seppo M.S. & Marimon Ramon, 2007. "Stable Sunspot Equilibria in a Cash-in-Advance Economy," The B.E. Journal of Macroeconomics, De Gruyter, vol. 7(1), pages 1-38, January.
    4. Baranowski, Ryan, 2015. "Adaptive learning and monetary exchange," Journal of Economic Dynamics and Control, Elsevier, vol. 58(C), pages 1-18.
    5. Jan Tuinstra & Florian Wagener, 2007. "On learning equilibria," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 30(3), pages 493-513, March.
    6. Lettau, M. & Van Zandt, T., 1995. "Robustness of Adaptive Expections as an Equilibrium Selection Device," Papers 9598, Tilburg - Center for Economic Research.
    7. Klaus Adam, 2003. "Learning and Equilibrium Selection in a Monetary Overlapping Generations Model with Sticky Prices," Review of Economic Studies, Oxford University Press, vol. 70(4), pages 887-907.
    8. Roger E. A. Farmer, 1996. "A theory of business cycles," Finnish Economic Papers, Finnish Economic Association, vol. 9(2), pages 91-109, Autumn.
    9. Gauthier, Stephane, 2002. "Determinacy and Stability under Learning of Rational Expectations Equilibria," Journal of Economic Theory, Elsevier, vol. 102(2), pages 354-374, February.
    10. Slobodyan, Sergey, 2005. "Indeterminacy, sunspots, and development traps," Journal of Economic Dynamics and Control, Elsevier, vol. 29(1-2), pages 159-185, January.
    11. Klaus Adam & George W. Evans & Seppo Honkapoja, 2003. "Are Stationary Hyperinflation Paths Learnable?," CESifo Working Paper Series 936, CESifo Group Munich.
    12. Evans, George W. & McGough, Bruce, 2005. "Stable sunspot solutions in models with predetermined variables," Journal of Economic Dynamics and Control, Elsevier, vol. 29(4), pages 601-625, April.
    13. Klaus Adam, 2001. "Learning and Equilibrium Selection in a Monetary Overlapping Generations Model with Sticky," CSEF Working Papers 69, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    14. Sergey Slobodyan, 1999. "Sunspot Fluctuations: A Way Out of a Development Trap?," Computing in Economics and Finance 1999 922, Society for Computational Economics.
    15. Duffy, John & Xiao, Wei, 2007. "Instability of sunspot equilibria in real business cycle models under adaptive learning," Journal of Monetary Economics, Elsevier, vol. 54(3), pages 879-903, April.
    16. Heinemann, Maik, 1997. "Convergence of Adaptive Learning and the Concept of Expectational Stability in Linear Rational Expectations Models with Multiple Equilibria," Hannover Economic Papers (HEP) dp-207, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    17. Gauthier, Stephane, 2001. "Learning and the saddle point property," Economics Letters, Elsevier, vol. 73(3), pages 339-343, December.
    18. Hommes, Cars & Kiseleva, Tatiana & Kuznetsov, Yuri & Verbic, Miroslav, 2012. "Is More Memory In Evolutionary Selection (De)Stabilizing?," Macroeconomic Dynamics, Cambridge University Press, vol. 16(03), pages 335-357, June.
    19. Alfred Maußner, 1997. "Learning to believe in nonrational expectations that support pareto-superior outcomes," Journal of Economics, Springer, vol. 65(3), pages 235-256, October.
    20. César L. Guerrero-Luchtenberg, 2004. "Alternative Dynamics and Stability Results in a Standard OLG Model. An Interpretation," Economía Mexicana NUEVA ÉPOCA, , vol. 0(2), pages 191-208, July-Dece.
    21. Adam, Klaus & Evans, George W. & Honkapohja, Seppo, 2006. "Are hyperinflation paths learnable?," Journal of Economic Dynamics and Control, Elsevier, vol. 30(12), pages 2725-2748, December.

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