Sunspot cycles

Julio Davila

Economic Theory, 2003, vol. 22, issue 1, pages 169-192

Abstract: This paper shows new properties about the equilibria of a stationary OG economy by establishing a connection between its stationary equilibria and those of a finite economy, with and without extrinsic uncertainty. Specifically, it shows the countability and local uniqueness with respect to the sup metric of the so-called sunspot cycles introduced here, that encompass both the deterministic cycles and the usual finite Markovian stationary sunspot equilibria. These sunspot cycles are, moreover, able to generate, at a lower cost in terms of assumptions than other sunspot equilibria, time series with the recurrent but irregular fluctuations typical of economic time series. Copyright Springer-Verlag Berlin Heidelberg 2003

Keywords: Keywords and Phrases: Overlapping generations; Sunspots; Cycles.; JEL Classification Numbers: D51; D84; D82. (search for similar items in EconPapers)
Date: 2003

Downloads: (external link)
http://hdl.handle.net/10.1007/s00199-002-0274-y (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:spr:joecth:v:22:y:2003:i:1:p:169-192

Ordering information: This journal article can be ordered from
http://link.springer.de/orders.htm

Access Statistics for this article

Economic Theory is edited by Nichoals Yanneils

More articles in Economic Theory from Springer
Series data maintained by Christopher F Baum ().