Comparing expectational stability criteria in dynamical models: a preparatory overview

Stephane Gauthier and Roger Guesnerie ()

DELTA Working Papers from DELTA (Ecole normale supérieure)

Abstract: This paper compares the most significant expectational stability criteria that have been used to assess the plausibility of perfect foresight trajectories in forward-looking dynamical systems: determinacy of trajectories, absence of neighbour sunspot trajectories, and convergence of "evolutive" and "eductive" learning processes. It examines, within a set of increasingly complex dynamical models, the robustness of an equivalence principle suggested by the analysis of the simplest classes of those models.

Date: 2004
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Working Paper: Comparing Expectational Stability Criteria in Dynamic Models: A Preparatory Overview (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:del:abcdef:2004-09

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