Detail On The Robustness of Bubbles in Linear RE Models   Oleh:  Evans, George W. ; Honkapohja, Seppo Jenis: Article from Bulletin/Magazine Dalam koleksi: INTERNATIONAL ECONOMIC REVIEW vol. 33 no. 1 (1992), page 1-14. Topik: LINEAR MODELS; bubbles; linear RE models Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: II49.2 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel We analyze the expectational stability (E -stability) of the different solutions of a linear rational expectations model in which the endogenous variable depends on expectations of its current and future values, formed in the past, and also on its own lagged value. It is shown that the continuum of bubble solutions cannot be strongly E - stable. In contrast, for certain parameter values, a particular solution which would normally be identified as a bubble solution can be strongly E - stable. The results are applied to a macroeconomic model with real balance effects. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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