Indeterminacy of intertemporal equilibria under imperfect competition
نویسندگان
چکیده
منابع مشابه
Indeterminacy of intertemporal equilibria under imperfect competition
It is known that overlapping generations models with imperfectly competitive firm may exhibit a continuum of stationary equilibria. The reason of this indeterminacy is that different price expectation functions of consumers lead to different objective demand functions against which firm maximize. All these expectation functions fulfil perfect foresight in the equilibrium, but they can be arbitr...
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ژورنال
عنوان ژورنال: Economic Theory
سال: 2001
ISSN: 0938-2259
DOI: 10.1007/pl00004105