Sunspot fluctuations in dynamics with predetermined variables

B-Tier
Journal: Economic Theory
Year: 1997
Volume: 10
Issue: 3
Pages: 483-495

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

In this paper, I study the existence of Sunspot Equilibria in a general framework whose dynamics allow for the presence of predetermined variables in the system. The main motivation for this research comes from the fact that previous studies did not allow for such predetermined variables which, nevertheless, appear quite naturally in economic models. I show, for a non-negligible subset of dynamics with predetermined variables verifying usual assumptions, the existence of Stationary Sunspot Equilibria fluctuating between an arbitrary finite number of states arbitrarily close to a steady state.

Technical Details

RePEc Handle
repec:spr:joecth:v:10:y:1997:i:3:p:483-495
Journal Field
Theory
Author Count
1
Added to Database
2026-01-25