Eductive Stability in Real Business Cycle Models
نویسندگان
چکیده
منابع مشابه
Eductive Stability in Real Business Cycle Models
Within the standard RBC model, we examine issues of expectational coordination on the unique rational expectations equilibrium. Our study rst provides a comprehensive assessment of the sensitivity of agentsplans and decisions to their short-run and long-run expectations. We show this sensitivity is much too great to trigger eductive coordination in a world of hyper-rational agents, who are en...
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ژورنال
عنوان ژورنال: The Economic Journal
سال: 2018
ISSN: 0013-0133,1468-0297
DOI: 10.1111/ecoj.12620