Coordination on saddle-path solutions: the eductive viewpoint—linear multivariate models
نویسندگان
چکیده
منابع مشابه
Coordination on saddle-path solutions: the eductive viewpoint - linear multivariate models
We examine local strong rationality (LSR) in multivariate models with both forward-looking expectations and predetermined variables. Given hypothetical common knowledge restrictions that the dynamics will be close to those of a specified minimal state variable solution, we obtain eductive stability conditions for the solution to be LSR. In the saddlepoint stable case the saddle-path solution is...
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 2005
ISSN: 0022-0531
DOI: 10.1016/j.jet.2004.06.010