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Autre Publication Scientifique Documents de travail du Centre d'Économie de la Sorbonne Année : 2014

A finite set of equilibria for the indeterminacy of linear rational expectations models

Résumé

This paper demonstates the existence of a finite set of equilibria in the case of the indeterminacy of linear rational expectations models. The number of equilibria corresponds to the number of ways to select n eigenvectors among a larger set of eigenvectors related to stable eigenvalues. A finite set of equilibria is a substitute to continuous (uncountable) sets of sunspots equilibria, when the number of independent eigenvectors for each stable eigenvalue is equal to one.
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Dates et versions

halshs-01053484 , version 2 (23-07-2014)
halshs-01053484 , version 1 (31-07-2014)

Identifiants

  • HAL Id : halshs-01053484 , version 1

Citer

Jean-Bernard Chatelain, Kirsten Ralf. A finite set of equilibria for the indeterminacy of linear rational expectations models. 2014. ⟨halshs-01053484v1⟩

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