Abstract
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.
| Original language | English |
|---|---|
| Pages (from-to) | 17-19 |
| Number of pages | 3 |
| Journal | Economics Letters |
| Volume | 104 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 2009 Jul 1 |
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All Science Journal Classification (ASJC) codes
- Finance
- Economics and Econometrics
Cite this
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Another weakness of "determinacy" as a selection criterion for rational expectations models. / Cho, Seonghoon; McCallum, Bennett T.
In: Economics Letters, Vol. 104, No. 1, 01.07.2009, p. 17-19.Research output: Contribution to journal › Article
TY - JOUR
T1 - Another weakness of "determinacy" as a selection criterion for rational expectations models
AU - Cho, Seonghoon
AU - McCallum, Bennett T.
PY - 2009/7/1
Y1 - 2009/7/1
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
VL - 104
SP - 17
EP - 19
JO - Economics Letters
JF - Economics Letters
SN - 0165-1765
IS - 1
ER -