| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18348 |
| 来源ID | Working Paper 18348 |
| Refining Linear Rational Expectations Models and Equilibria | |
| Seonghoon Cho; Bennett T. McCallum | |
| 发表日期 | 2012-08-31 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | This paper proposes forward convergence as a model refinement scheme for linear rational expectations (LRE) models and an associated no-bubble condition as a solution selection criterion. We relate these two concepts to determinacy and characterize the complete set of economically relevant rational expectations solutions to the LRE models under determinacy and indeterminacy. Our results show (1) why a determinate solution is economically meaningful in most, but not all, cases, and (2) that those models that are not forward-convergent have no economically relevant solutions. |
| 主题 | Microeconomics ; Mathematical Tools ; Economics of Information |
| URL | https://www.nber.org/papers/w18348 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/576024 |
| 推荐引用方式 GB/T 7714 | Seonghoon Cho,Bennett T. McCallum. Refining Linear Rational Expectations Models and Equilibria. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w18348.pdf（157KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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