ON THE ROBUSTNESS OF BUBBLES IN LINEAR RE MODELS

被引：26

作者：

EVANS, GW ^{[1
]}

HONKAPOHJA, S ^{[1
]}

机构：

[1] ACAD FINLAND,SF-00551 HELSINKI,FINLAND

来源：

INTERNATIONAL ECONOMIC REVIEW | 1992年 / 33卷 / 01期

关键词：

D O I：

10.2307/2526979

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

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.

引用

页码：1 / 14

页数：14