A note on learning chaotic sunspot equilibrium

dc.contributor.affiliationFGV
dc.contributor.authorAraújo, Aloísio Pessoa de
dc.contributor.authorMaldonado, Wilfredo Fernando Leiva
dc.contributor.unidadefgvEscolas::EPGEpor
dc.date.accessioned2008-05-13T15:28:21Z
dc.date.accessioned2010-09-23T18:58:34Z
dc.date.available2008-05-13T15:28:21Z
dc.date.available2010-09-23T18:58:34Z
dc.date.issued2001-05-01
dc.description.abstractIn this paper we prove convergence to chaotic sunspot equilibrium through two learning rules used in the bounded rationality literature. The rst one shows the convergence of the actual dynamics generated by simple adaptive learning rules to a probability distribution that is close to the stationary measure of the sunspot equilibrium; since this stationary measure is absolutely continuous it results in a robust convergence to the stochastic equilibrium. The second one is based on the E-stability criterion for testing stability of rational expectations equilibrium, we show that the conditional probability distribution de ned by the sunspot equilibrium is expectational stable under a reasonable updating rule of this parameter. We also report some numerical simulations of the processes proposed.eng
dc.identifier.issn0104-8910
dc.identifier.urihttps://hdl.handle.net/10438/622
dc.language.isoeng
dc.publisherEscola de Pós-Graduação em Economia da FGVpor
dc.relation.ispartofseriesEnsaios Econômicos;423por
dc.subject.areaEconomiapor
dc.subject.bibliodataEconomiapor
dc.subject.bibliodataEquilíbrio econômicopor
dc.titleA note on learning chaotic sunspot equilibriumeng
dc.typeWorking Papereng
Arquivos
Pacote Original
Agora exibindo 1 - 1 de 1
Carregando...
Imagem de Miniatura
Nome:
1271.pdf
Tamanho:
391.28 KB
Formato:
Adobe Portable Document Format