A NOTE ON WOODFORDS CONJECTURE - CONSTRUCTING STATIONARY SUNSPOT EQUILIBRIA IN A CONTINUOUS-TIME MODELS

被引：12

作者：

SHIGOKA, T

机构：

[1] Kyoto Institute of Economic Research, Kyoto University, Kyoto, 606, Yoshidamachi Sakyoku

来源：

JOURNAL OF ECONOMIC THEORY | 1994年 / 64卷 / 02期

关键词：

D O I：

10.1006/jeth.1994.1081

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We show how to construct stationary sunspot equilibria in a continuous time model, where equilibrium is indeterminate near either a steady state or a closed orbit. Woodford's conjecture that the indeterminacy of equilibrium implies the existence of stationary sunspot equilibria remains valid in a continuous time model. (C) 1994 Academic Press, Inc.

引用

页码：531 / 540

页数：10

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