From the "three-goods" macroeconomic model to the" (n+2)-goods" model: an Exploration of the Robustness of the Analysis of Expectational Eductive Coordination

Roger Guesnerie ()

DELTA Working Papers from DELTA (Ecole normale supérieure)

Abstract: The paper analyses the robustness of the conclusions previously obtained showing that, in a simple three-goods model, the success of "eductive" expectational coordination relates with low supply elasticity, high demand elasticity, and high marginal propensity to consume (or high "elementary keynesian multiplier"). In a more general context, similar generalized factors have analogous qualitative effects, although new factors (heteroneity of beliefs) appear. Also, the positive coordination effects of the income effect, through the keynesian multiplier action, is now less powerful.

Keywords: ECONOMIC MODELS; MATHEMATICAL ANALYSIS; INCOME; SUPPLY; DEMAND (search for similar items in EconPapers)
JEL-codes: C53 E13 E25 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2000
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Published in Economic Essays, a Festschrift for Werner Hildenbrand, G. Debreu, W. Neuefeind, W. Trockel, editors, pp. 141-158, Springer, 2001.version abégée de Delta working paper 2000-22

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