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Business cycle models with indeterminacy /

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Three original models which explain business cycles as a result of self-fulfilling expectations are presented. The models are founded on the structue of dynamic general equilibrium theory. Market power and increasing returns to scale are introduced which allow indeterminancy of the Rational Expectat...

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Bibliographic Details
Main Author: Weder, Mark, 1966-
Corporate Author: SpringerLink (Online service)
Format: eBook
Language:English
Published: Heidelberg ; New York : Physica-Verlag, [1998]
Series:Contributions to economics.
Subjects:
Business cycles > Mathematical models.
Rational expectations (Economic theory) > Mathematical models.
Equilibrium (Economics) > Mathematical models.
Electronic books.
Online Access:Connect to the full text of this electronic book
Table of Contents:
  • Introduction: New methods of business cycle theory; Business cycle models with indeterminancy; Related work
  • Indeterminancy, Business Cycles and Modest Increasing Returns to Scale: The model; The equilibrium dynamics; Calibration; Results; Interpretation; Second moments
  • Self-Fulfilling Prophecies and Business Cycles in a Two-Sector Stochastic Optimal Growth Model: The model; The equilibrium dynamics; Calibration; Results
  • Animal Spirits, Technology Shocks and the Business Cycle: The model; The equilibrium dynamics; Calibration; Results; Business cycle properties
  • Conclusion.