Sufficient Conditions and Necessary Conditions for delta-stability

Anna Bogomolova and Dmitri Kolyuzhnov
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Anna Bogomolova: CERGE-EI
Dmitri Kolyuzhnov: CERGE-EI

No 312, Computing in Economics and Finance 2006 from Society for Computational Economics

Abstract: We provide sufficient conditions and necessary conditions for stability of an economy under structural mixed recursive least squares/stochastic gradient heterogeneous learning of agents with possibly different degrees of inertia. We have found a unifying condition which is sufficient for convergence of an economy under such general type of adaptive learning towards rational expectations equilibrium for a broad class of economic models. We demonstrate and provide interpretation of this condition on an economic example

Keywords: Adaptive learning; stability of equilibrium; heterogeneous agents (search for similar items in EconPapers)
JEL-codes: C62 D83 E10 (search for similar items in EconPapers)
Date: 2006-07-04
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:sce:scecfa:312

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