Apprentissage et équilibres à taches solaires. Un point de vue divinatoire

Gabriel Desgranges and Giorgio Negroni

Revue économique, 2001, vol. 52, issue 3, 583-593

Abstract: In a simple OLG model, we analyze expectations coordination on a Stationary Sunspot Equilibrium (SSE), using an ??eductive? approach in which agents forecast the forecasting of other participants through Common Knowledge assumptions. We characterize the local stability of a SSE in terms of labor supply elasticity, and we give two results of existence of locally stable SSE by means both of Poincaré-Hopf Theorem and a local bifurcation argument. Classification JEL : D84, D90, E37

JEL-codes: D84 D90 E37 (search for similar items in EconPapers)
Date: 2001
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