On the Learnability of Rational Expectations Equilibria in Three Business Cycle Models

Mikko Packalen

University of Helsinki, Department of Economics from Department of Economics

Abstract: In this thesis we analyze the learnability of rational expectiations equilibria in three general equilibrium business cycle models. The economic example business cycles models comprise the basic real business cycles model, an increasing returns model and a model with both static and dynamic complementarities. In these models the business cycles are driven by both shocks that affect the production technology and by taste shocks that affect the marginal rate of substitution between consumption and labor. In the two latter models we also analyze the existence and learnability of sunspot rational expectations equilibria.

Keywords: EXPECTATIONS; BUSINESS CYCLES; LEARNING (search for similar items in EconPapers)
JEL-codes: E32 E37 (search for similar items in EconPapers)
Pages: 55 pages
Date: 2000
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:fth:helsec:87

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