The definition of stability in models with perfect foresight
dc.contributor.author | Laitner, John P. | en_US |
dc.date.accessioned | 2006-04-07T17:45:44Z | |
dc.date.available | 2006-04-07T17:45:44Z | |
dc.date.issued | 1982-12 | en_US |
dc.identifier.citation | Laitner, John (1982/12)."The definition of stability in models with perfect foresight." Journal of Economic Theory 28(2): 347-353. <http://hdl.handle.net/2027.42/23786> | en_US |
dc.identifier.uri | http://www.sciencedirect.com/science/article/B6WJ3-4CYH5JF-C0/2/425c29c1fbef2951f823097bf40dfbe4 | en_US |
dc.identifier.uri | https://hdl.handle.net/2027.42/23786 | |
dc.description.abstract | Frequently the stationary states of decentralized models with perfect foresight and more than one asset are saddlepoints. In this note we develop a distinction between "historical" and "nonhistorical" variables. Then we use the distinction to define economic concepts of "weak" and "strong" local asymptotic stability--which apply even for some saddlepoints. We conclude with three examples. | en_US |
dc.format.extent | 319606 bytes | |
dc.format.extent | 3118 bytes | |
dc.format.mimetype | application/pdf | |
dc.format.mimetype | text/plain | |
dc.language.iso | en_US | |
dc.publisher | Elsevier | en_US |
dc.title | The definition of stability in models with perfect foresight | en_US |
dc.type | Article | en_US |
dc.rights.robots | IndexNoFollow | en_US |
dc.subject.hlbsecondlevel | Economics | en_US |
dc.subject.hlbtoplevel | Business | en_US |
dc.description.peerreviewed | Peer Reviewed | en_US |
dc.contributor.affiliationum | Department of Economics, The University of Michigan, Ann Arbor, Michigan 48109, USA | en_US |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/23786/1/0000024.pdf | en_US |
dc.identifier.doi | http://dx.doi.org/10.1016/0022-0531(82)90065-5 | en_US |
dc.identifier.source | Journal of Economic Theory | en_US |
dc.owningcollname | Interdisciplinary and Peer-Reviewed |
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