TY - JOUR
T1 - Another weakness of "determinacy" as a selection criterion for rational expectations models
AU - Cho, Seonghoon
AU - McCallum, Bennett T.
N1 - Copyright:
Copyright 2009 Elsevier B.V., All rights reserved.
PY - 2009/7
Y1 - 2009/7
N2 - This paper argues against determinacy as a guide to interpret rational expectations solutions, using an example in which a determinate solution exists but differs sharply in dynamic behavior from that implied by the model considered on a sector-by-sector basis.
AB - This paper argues against determinacy as a guide to interpret rational expectations solutions, using an example in which a determinate solution exists but differs sharply in dynamic behavior from that implied by the model considered on a sector-by-sector basis.
UR - http://www.scopus.com/inward/record.url?scp=67349160956&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=67349160956&partnerID=8YFLogxK
U2 - 10.1016/j.econlet.2009.03.005
DO - 10.1016/j.econlet.2009.03.005
M3 - Article
AN - SCOPUS:67349160956
VL - 104
SP - 17
EP - 19
JO - Economics Letters
JF - Economics Letters
SN - 0165-1765
IS - 1
ER -